On 31 October 2023, Federal Law No. 51 of 2023 Promulgating the Financial and Bankruptcy Law (the Bankruptcy Law) was published in the United Arab Emirates (UAE) Official Gazette, repealing the prior federal law on bankruptcy (Federal Law No. 9 of 2016, the Prior Law) and significantly developing the bankruptcy regime in the UAE.

In Bailey & Others (Joint Liquidators of D&D Wines International Limited) v Angove’s Pty Limited¹, the Court of Appeal overturned a decision of the High Court, and so permitted the liquidator of an insolvent agent to recover funds due to it from end-customers despite the agency having been terminated.

Background

Background
Decision on survival of contractual rights
Decision on constructive trust
Comment

Introduction

Introduction

Introduction

Introduction

Introduction

Introduction

Introduction