UAE set to enact bankruptcy law as companies grapple with downturn - FT.com:
"The United Arab Emirates is set to enact a long-awaited bankruptcy law that could protect executives at failing businesses from criminal prosecution if they enter insolvency.
Under existing regulations it is difficult to liquidate companies, while individuals can face criminal action if they default on debt, causing expatriates to flee the Middle East’s business hub rather than face prison."
'via Blog this'
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