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.
Liquidators have more certainty about their ability to disclaim the environmental liabilities and responsibilities of a company in liquidation.
Australia, Queensland, Company & Commercial, Environment & Climate Change, Insolvency & Restructuring, Litigation, Clayton Utz, Environmental protection, Liquidation, Corporations Act 2001 (Australia), Queensland Supreme Court
The liquidators were not bound to cause Linc to comply with the EPO from the date of the disclaimer.
Australia, Queensland, Environment & Climate Change, Insolvency & Restructuring, Litigation, Clayton Utz