On May 30, 2019, Dubais ruler, Sheikh Mohammed bin Rashid al-Maktoum, signedDIFC Insolvency Law, Law No. 1 of 2019(the New Insolvency Law) into law, thereby repealing and replacing DIFC Law No. 3 of 2009. The New Insolvency Law, and supporting regulations (the Regulations), became effective on June 13, 2019, and govern companies operating in the Dubai International Financial Centre (the DIFC).
A full analysis of the New Insolvency Law is beyond the scope of this post. However, there are many important provisions of the New Insolvency Law that will be very familiar to U.S. bankruptcy practitioners, as well as cross-border practi…
Read the full article at: https://www.natlawreview.com/article/dubai-makes-moves-toward-international-best-practices-new-insolvency-law
