Under Royal Decree 18/2019, the Commercial Companies Law provides a strong safety net for those owed money, ensuring they are not forgotten when a business dissolves. When a company enters liquidation, whether by shareholder decision or court order, creditors are given clear rights that put them first in line before anyone else gets paid.
In an exclusive interview with Times of Oman, Dr. Mohammed Ibrahim Al Zadjali, Founding Partner of Mohammed Ibrahim Law Firm, explains that “the moment a company dissolves, a licensed liquidator takes over. Their main responsibility is to settle the company’s obligations. A key part of this process is protecting the rights of creditors. This liquidator must immediately notify all known creditors by…