The UAE Government recently passed legislation that substantially simplifies the procedure for obtaining a payment order.

Payment orders may offer an efficient method to obtain ex parte judgement against a debtor. They are frequently used when claiming amounts arising from bounced checks or other commercial instruments.

Introduction:

بإشهار افلاس شخص ما أو شركة ، وما هي الفائدة التي تعود على الدائنين ، وهنا سنبين أهم الىثار التي تترتب على على الحكم بإشهار الإفلاس وهي عدة آثار بالنسبة للمدين وبالنسبة للدائنين  وبالنسبة للتفليسة نبينها فيما يلي :-

ويمكن حصر الاثار المتعلقة بشخص المدين في أربعة آثار رئيسية :
1- تقييد حرية المفلس : لا يجوز للمفلس ان يتغيب عن محل اقامته دون ان يخطر امين التفليسة كتابة بمحل وجوده، ولا يجوز له ان يغيره او يغادر الدولة الا بإذن من قاضي التفليسة. 

The rising strength of the United Arab Emirates as a commercial powerhouse has continued as the Covid-19 pandemic recedes. The UAE was a key business hub prior to 2020, but the flow of money and talent into the country has increased since then, driven by numerous factors including the UAE’s business-friendly climate, its stable political regime, and the access to fair and transparent justice mechanisms.

Financial liability in terms of multiple loans or credit cards is to be best handled by availing the option of a ‘Debt consolidation loan in UAE’. There are several banks in the UAE providing the services of a ‘debt consolidation loan’. As per the latest surveys, it is seen that at least three in five UAE residents have outstanding debts of various nature and therefore can benefit from the Debt consolidation services.

How it works:

We all have been witnessing major steps taken by the government of UAE in order to prevent negative impact of coronavirus on our economy. COVID-19 has just made wide-scale interruption to various ventures both locally and internationally.

Given the absence of any mandatory set-off rights on insolvency in the current UAE Bankruptcy Law, the application and effectiveness of netting provisions in financial market contracts made with a UAE counterparty has historically been uncertain.

It has been a busy time for legislators in the United Arab Emirates (“UAE”), with the introduction of many new laws and regulations which impact the financial services industry.

This article looks back on recent developments and attempts to predict what else may be enacted during 2017.

Centre for Amicable Settlement of Disputes

Кто должен платить, когда поставщик топлива становится неплатежеспособным.

1. Введение

We have recently experienced an increase in mandates concerning disputes between shareholders and the Board of a Cayman company, which in many cases, leads to a shareholder applying to appoint provisional liquidators over the Company on a just and equitable basis. Therefore, we considered it important to remind those considering this remedy of the evidentiary hurdles they need to overcome to exercise it successfully.