The process of company liquidation involves a series of legal and administrative steps aimed at terminating the company’s legal personality, assessing its assets, and settling its liabilities. This process is conducted according to the following stages:

I. Primary Stages of Liquidation

Issuance of the Dissolution Resolution: The process begins with an official resolution to dissolve and liquidate the company, whether it is a voluntary resolution by the General Assembly (partners) or a judicial ruling issued by the competent court.

Rules of Territorial Jurisdiction in Insolvency Lawsuits: A Reading of Dubai Court of Cassation Rulings

Insolvency cases raise fundamental questions regarding the geographical scope of litigation, especially given the economic integration between the Emirates. One of the most prominent questions is: Can a debtor file an insolvency lawsuit before Dubai Courts while residing in another Emirate?

Between the Hammer of Debt and the Anvil of the Law: Dubai Courts Uphold Compassionate Justice in GCC National’

Corporate restructuring is a complex process that involves significant changes in the ownership, operations, or structure of a company. In the United Arab Emirates (UAE), the legal paths and procedures for corporate restructuring are well-defined and strictly regulated. Understanding these processes is crucial for businesses looking to navigate the intricate landscape of corporate law in the UAE.

What is Corporate Restructuring?

In a move that exemplifies the flexibility of the UAE’s judicial system, the Dubai Court has issued a landmark ruling declaring the insolvency of an Arab national. The individual had accumulated civil debts totaling AED 736,000, leading to a complete inability to meet financial obligations.

Declaring bankruptcy for a Limited Liability Company (LLC) in the UAE entails several legal, financial, and commercial consequences that affect the company itself, its partners, creditors, and the overall market. The most prominent effects include:

Freezing of Assets and Accounts: Upon the issuance of a bankruptcy judgment, the company's assets are frozen and placed under the management of a Bankruptcy Trustee, for the purpose of liquidation or restructuring in favor of the creditors.

يُعد الإعسار في القانون الإماراتي من الموضوعات القانونية التي تمس شريحة واسعة من الأفراد،خصوصًا في ظل التحديات الاقتصادية المعاصرة. فالإعسار هو الحالة التي يعجز فيها الشخص الطبيعي عن سداد ديونه المستحقة بسبب تدهور وضعه المالي أو عدم كفاية أصوله لتغطية التزاماته

ولأن هذا الوضع قد ينتج عن ظروف خارجة عن الإرادة، مثل فقدان الوظيفة أو إخفاق استثماري أو التزامات مالية طارئة، فقد حرص المشرّع الإماراتي على توفير إطار قانوني إنساني ومتوازن لمعالجته، دون اللجوء مباشرة إلى العقوبات أو السجن

تبنت دولة الإمارات منظومة قانونية حديثة ومتطورة لمعالجة حالات تعثّر الشركات وحماية الاقتصاد الوطني. أحدث تشريع في هذا المجال هو مرسوم بقانون اتحادي رقم 51 لسنة 2023 بشأن إعادة التنظيم المالي والإفلاس، الذي بدأ العمل به في 1 مايو 2024 هذا القانون جاء ليحل محل القانون السابق رقم 9 لسنة 2016، وليعالج الثغرات ويوفّر حلولًا أكثر مرونة

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Gulf Resident Declared Insolvent with Debts of 853,000 AED – Legal Implications and Procedures

Conditions for Filing an Insolvency Lawsuit in the UAE

Introduction

Insolvency is a financial state that can affect both individuals and businesses, signifying an inability to meet debt obligations. While it’s a challenging situation, addressing insolvency proactively can prevent further complications and set the stage for recovery. This guide provides actionable insights to navigate insolvency effectively, offering a lifeline when you need it most.

Key Causes of Insolvency

For Individuals