UAE Vice President and Prime Minister and Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum has ordered the formation of a committee to oversee the financial restructuring of companies in the country.
The resolution follows the introduction of a bankruptcy law at the beginning of last year designed to help businessmen avoid jail if their company fails to pay its debts.
Read: No more jail time for bad debts under new UAE bankruptcy law
The Financial Reorganisation Committee comprises nine members from various federal and local government departments who will serve a three…
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