UAE moves towards enacting new insolvency law | The National:
"The long-awaited new insolvency law has taken a big step towards becoming a reality after being approved by the Cabinet.
Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, said on his website that the proposed draft law includes flexible strategies to bail out businesses that have encountered financial troubles that might lead to bankruptcy.
“The draft law aims to regulate accumulated debts, eases restructuring of companies as well as support troubled businesses,” he said."
'via Blog this'
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