Bankruptcy proceedings have an inevitable air of finality about them. They dissect the circumstances that led a business to crash and burn. What often remains unsaid are the dashed hopes and aspirations of the promoters and employees alike.
In other words, there was no option of a second chance. Not anymore, if the proposed UAE Bankruptcy Law comes into effect with full force.
For the country's small and medium-sized businesses the new law does give them some time to try to turn things around.
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