At the COP26 climate summit in November 2021, over forty countries committed to phase out use of coal-fired power.
Canada, Global, USA, Energy & Natural Resources, Environment & Climate Change, Insolvency & Restructuring, Litigation, Freshfields Bruckhaus Deringer, COP26
Payment Orders were originally introduced in the CPC as a fast track route for creditors holding a financial instrument, such as a letter of credit or cheque, to obtain judgment against their debtor for what is a simple and indisputable debt. Payment Orders were rarely issued by the onshore UAE courts. In 2018, Cabinet Resolution No 57 of 2018 (the “2018 Cabinet Resolution”) significantly expanded the scope of application of Payment Orders by extending them to all admitted debts rather than simply those arising out of financial instruments only.