Bankruptcy Law in Dubai | Liquidation, and Insolvency
“Are you the owner, partner, manager of a commercial company duly registered in the UAE that is struggling to pay your creditors? Are you undergoing a business downturn and seek legal solutions to solve your financial problems?
Then look no further and come to Al Riyami Advocates and learn fully how to protect yourself: The Federal Bankruptcy Law issued under the federal decree No. (9) for 2016 on various bankruptcy cases. The law identifies different ways to avoid bankruptcy cases and the liquidation of debtors’ assets, including consensual out-of-court financial restructuring, composition procedures, financial restructuring and the potential to secure new loans under terms set by the law. Businessmen will no more have to face arrest or legal prosecution for unpaid debts, nor do they have to flee the country – as many had done in the past- to avoid jail term following the implementation of the landmark UAE Bankruptcy law.
Make Alriyami Advocates your first choice when deciding on declaring commercial Bankruptcy: Many clients fail to realize the full benefits of the current bankruptcy laws either because they do not know the process or they seek help from organizations which do not specialize in this process. Here, knowledge is power, there are so many steps to take for a successful outcome, since the bankruptcy restructuring committee was only put in place March 1st, 2018, few firms have experience with the new law and procedures. Current law firms and consultancies will just push for liquidation, since this is what they have been doing for years, and just too busy with other services they provide.
Our legal experts specialize in this process, with the sole purpose of settling your companies debts and having removed any potential criminal liabilities through the implementation of this new law.