The legal framework governing commercial distress and corporate insolvency in the United Arab Emirates has shifted from a largely liquidation-based framework to a modern framework that is more focused on business rescue and financial restructuring. The key legislative amendment is Federal Decree-Law No. 51 of 2023 Promulgating the Financial Restructuring and Bankruptcy Law, which took effect on 1 May 2024 and replaces the previous bankruptcy regime established by Federal Decree-Law No. 9 of 2016. The law is issued pursuant to Cabinet Resolution No. 94 of 2024, issuing its Executive Regulations. These rules, together, establish procedures for preventive settlement, financial restructuring and bankruptcy, and regulate creditor rights,…
Insolvency Guardian
Insolvency Services & Bankruptcy Advice
