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Sunday, 4 September 2016

U.A.E. Cabinet Adopts Final Version of Federal Bankruptcy Law - Bloomberg

U.A.E. Cabinet Adopts Final Version of Federal Bankruptcy Law - Bloomberg:

"The United Arab Emirates’ cabinet adopted a final version of the federal bankruptcy law, as the oil-rich nation tries to attract investors put off by current rules that criminalize an inability to repay debt.
The law “aims to enhance foreign investment and ease the work of commercial companies,” Sheikh Mohammed bin Rashid Al Maktoum, the U.A.E.’s prime minister and Dubai’s ruler, said on Twitter on Sunday. The post included no details of the new law."



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