Disputes included those arising from vehicle rents and real estate settlements. The Ajman Police helped settle financial disputes worth over Dh10.6 million in 2020. Through their special initiative called Falak Tayeb, the police helped restore the amounts to 724 rightful claimants. Colonel Ali Jabr Al Shamsi, Director of the Comprehensive Police Stations at Ajman Police,…
Covid-19 induced economic uncertainties are a reality in the current business landscape. The UAE governments proactive stimulus packages have been successful in limiting its impact, but some companies have fallen prey to the pandemic. Companies such as Sprii and Gulf Greetings Trading closed their operations in the UAE due to cashflow problems. Firms that decide…
The enactment of the Insolvency and Bankruptcy Code 2016 (Code) has had significant ramifications on the corporate insolvency landscape. Over time, the Code has witnessed a manifold increase in litigation, and consequently in the number of decisions. This has made it difficult for insolvency practitioners to stay updated with developments in the field. The purpose…
A ray of light shone on the owners of troubled SMEs when the Company Law Review Group (CLRG) published its much-anticipated report on restructuring small companies. The owners of SMEs in difficulty have long awaited legislation to make formal corporate rescue, already available to larger companies through examinership, accessible to them. The need for this…