UAE Cabinet approves amendments to bankruptcy law

@uaegov/Twitter

The UAE Cabinet, headed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved some amendments to the bankruptcy law.

New provisions related to 'emergency situations' have now been added to the law.

They take into account additional circumstances that affect trade or investment in the country, such as the outbreak of an epidemic as well as natural or environmental disasters.

The changes are aimed at helping companies overcome difficulties during emergency situations.

More from UAE

Latest Local News