Federal Decree Law No (16) of 2021 (Factoring Law) was issued on 29 August 2021 and came into effect on 7 December 2021. The Factoring Law, whilst laying a legislative framework for a rapidly expanding trade finance industry in the United Arab Emirates (UAE), also provided much needed clarity from, and an update to, Federal Law No (4) of 2020 (Moveables Law) and Federal Law No (1) 1987 (Civil Code).
New entrants to the trade finance market
United Arab Emirates, Banking, Insolvency & Restructuring, Addleshaw Goddard LLP, Supply chain, Coronavirus
The Technology and Construction Court in England has refused pre-action disclosure of the insurance policy of a currently solvent insured, notwithstanding that a successful claim would have resulted in the insolvency of the insured.
Factual background
United Kingdom, Insolvency & Restructuring, Insurance, Litigation, Addleshaw Goddard LLP, Technology and Construction Court