The UAE will host Expo 2020!
  • Arabic
Supported by the UAE National Media Council
We are in the process of developing and improving our website, and we invite you to participate in our brief survey to measure the level of your satisfaction
Satisfaction Survey For UAE Interact Website
رغبة منا بالتعرف على مستوى رضاكم عن موقعنا وبهدف تطويره وتحسينه، فقد قمنا بتصميم استبيان سريع لقياس مدى الرضا عن موقع دولة الإمارات العربية المتحدة روعي في تصميم الاستبيان أن يكون قصيرا وسريعا كي لا نطيل عليكم، وعليه نرجو منكم التكرم باستكماله عن طريق الرابط التالي
استبيان رضا المتعاملين عن موقع دولة الإمارات العربية المتحدة

Mohammed bin Rashid issues decree on Special Judicial Committee assigned to settle Abed Al Boom financial status

posted on 06/12/2013: 1260 views

Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, in his capacity as Ruler of Dubai, has issued Decree No. 30 for 2013, partially amending Decree No. 34 for 2009, regarding the formation of the Special Judicial Committee assigned to settle the Abed Al Boom financial status.

Article 04 of the new decree states that: "creditors and investors that submit their claims and petitions to the Committee after 31st of December 2013 do not benefit from the settlement; without prejudice to their rights, and they may claim their monies from any further settlements." Additionally, the Judicial Committee called all creditors, whether corporate legal or individual legal, that had not submitted their claims and petitions, or those who did not complete their documentation, to submit their claims, petitions and supporting documents to the Committee before 31st of December 2013.

Pursuant to the Decree, the Special Judicial Committee is not liable to accept any claims or documents after the above mentioned date.

The Committee elaborates to say that those who fail to submit their claims prior to the above mentioned date will not benefit from this settlement, and they may file a criminal report with reference to the penal action.

Dubai Appeal Court and Chairman of the Judicial Committee, Judge Saeed Hilal Al Zabbi, asserted that the decree amendment authorised the Committee to determine the debtor's international assets, run settlements and distribute the liquidised monies to the creditors and investors whose claims had been endorsed by the Committee.

Judge Al Zabbi also clarified that binding the debtor to deposit all his monies in the Committee's account by a certain deadline, and defining 31st of December 2013 as the last date to accept creditors and investors' claims, will enable the Committee to adhere to the time limitation stated in the Decree. - Emirates News Agency, WAM


08 June 2017 Mohammed bin Rashid, Mohamed bin Zayed hold talks with Emir of Kuwait
08 June 2017 Sustainable development, green economy are priorities of Ajman Government: Ammar Al Nuaimi
05 June 2017 UAE supports statements of Kingdom of Bahrain and Kingdom of Saudi Arabia on Qatar
22 May 2017 Mohammed bin Rashid launches 2071 Zone as core for designing the future
15 May 2017 UAE condemns North Korean ballistic missile launch, calls for preserving international security and peace

Most Read