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MoF reviews final draft of Federal Bankruptcy Law

posted on 06/09/2016: 2312 views


The Ministry of Finance, MoF, has reviewed the final draft of the Federal Bankruptcy Law. The bankruptcy law sets up a new regulatory body, the Committee of Financial Restructuring.

The UAE Cabinet will decide on the number of members and entities that will represent the committee and will administer the committee's law and its procedures. The committee is in charge of overseeing the procedures of financial restructuring outside the scope of the court, appointing experts in the field of financial restructuring, establishing an electronic record of individuals issued against them a bankruptcy ruling. http://www.wam.ae/en/news/emirates/1395299683743.html



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