Companies facing financial difficulties must opt for legal options to avoid bankruptcy
The Dubai Chamber of Commerce recently hosted a webinar, in conjunction with Afridi & Angell, to familiarize UAE businesses with the changes to the UAE Bankruptcy Law, as well as the latest rules and regulations. procedures companies must follow when filing for bankruptcy.
The webinar brought together 210 participants representing companies operating in various economic sectors who learned about the latest developments and key aspects related to bankruptcy law in the UAE, in addition to recent amendments to the law.
The session was led by Rahat Dar, Partner, Afridi & Angell, who spoke about the main features of the UAE bankruptcy law and the fundamental changes that have been made to this law in recent years.
Dar stressed the importance of raising awareness of key aspects of bankruptcy in the UAE, such as the legal options companies can take in the event of financial difficulties, as well as the framework to follow in the process of filing for bankruptcy.
Jehad Kazim, Vice President, Legal Services, Dubai Chamber of Commerce, noted that the webinar supports the Chamber’s efforts to keep the business community in Dubai informed of the latest regulatory developments and provide an ideal platform for businesses to ask their questions directly to the expert legal services.
UAE bankruptcy law has been updated in recent years to meet the changing needs of Dubai businesses facing a new reality and different challenges, she explained, adding that the Chamber of Commerce of Dubai regularly organizes seminars and webinars which offer clarity and advice on the main legal aspects. issues that impact the business community in Dubai.
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