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Sunday, 24 January 2010

Woes could form legal guidebook

Orion Holding Overseas is only the third company to be ordered into liquidation by the Dubai International Financial Centre’s (DIFC) courts.

As one of its earliest insolvency cases, the Orion saga could set precedents and provide a guide for the judicial system as it handles an expected flood of liquidations this year.

Until last year, Forsyth Partners’ insolvency in 2007 was the only major case the courts had adjudicated.