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UAE Bankruptcy Series Part IV: Distribution

The process of distribution of assets commences with the court closing and sealing all the offices and books of accounts of the bankrupt. 

Article 736 of the Law states:

1-    “Immediately upon the issuing of the judgment declaring the bankruptcy, the judge of the bankruptcy shall seal the bankrupt’s place of business, offices, safes, books, papers, and moveable properties; and he shall deput...

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UAE Bankruptcy Series Part III

 

After the bankruptcy judgment is passed, all legal claims by or against the bankrupt shall cease with the exception of the following claims:

Article 691 of the Law states:

“No claim maybe filed or against a bankrupt nor may it be proceeded with, after the issuing of the judgment declaring bankruptcy, with exception of the following claims:

1-    Claims related to properties, rights and tr...

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UAE Bankruptcy Series Part II: Introduction to Bankruptcy in the UAE

 

The following UAE laws contain provisions relating to bankruptcy:

1. Federal Law No. 18 Concerning Commercial Transactions and its Amendments (Articles 654 – 900). (the “Law”)

2. UAE Penal Code Federal Law No. 3 of 1987. (“Penal Procedure”)

3. UAE Civil Procedure Law as Amended by Federal Law No. 30 of 2005. (“CPL”)

Bankruptcy applies only to traders (individual or company that carries ou...

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General Partnerships in Abu Dhabi

 

1.

Article 23 of Federal Law No. 8 of 1984 Concerning Commercial Companies (the “Law”) defines the General Partnership as being a company formed by two or more partners who are jointly liable to the extent of all their assets for the company’s liabilities. 

It is understood from the above provision that the number of partners should not be less than two, but may be more.  This is in additio...

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Articles

Camille Paldi (FAAIF) Participates in Sapporo 2016 International Congress on Banking, Economics, Finance, and Business, June 24-26, 2016.

Camille Paldi (FAAIF) Participates in Sapporo 2016 International Congress on Banking, Economics, Finance, and Business, June 24-26, 2016.

Camille Paldi (FAAIF) Participates in Sapporo 2016 International Congress on Banking, Economics, Finance, and Business, June 24-26, 2016.

 

Camille Paldi, CEO of the Franco-American Alliance for Islamic Finance (FAAIF), participated in the 2016 International Congress on...

Posted on 13th July 2016 by Camille Paldi

Camille Paldi, CEO of FAAIF, participates in the 2016 International Symposium on Economics and Social Sciences in Kyoto, Japan.

Camille Paldi, CEO of FAAIF, participates in the 2016 International Symposium on Economics and Social Sciences in Kyoto, Japan.

Camille Paldi, CEO of FAAIF, participates in the 2016 International Symposium on Economics and Social Sciences in Kyoto, Japan.

 

Camille Paldi, CEO of FAAIF or the Franco-American Alliance for Islamic Finance, discussed the modes of Islamic finance plus sukuk, taka...

Posted on 13th July 2016 by Camille Paldi

Challenges in Infrastructure Financing in Developing Countries: An Islamic Approach, Substituting Equity and Sukuks to Debt

Challenges in Infrastructure Financing in Developing Countries: An Islamic Approach, Substituting Equity and Sukuks to Debt

Challenges in Infrastructure Financing in Developing Countries: An Islamic Approach, Substituting Equity and Sukuks to Debt

 Posted on 1st July 2016 by Noureddine Krichene and Camille Paldi

Book Review for Asset Based Financing by Dr. Muhammad Hanif

Book Review for Asset Based Financing by Dr. Muhammad Hanif

Book Review for Asset Based Financing by Dr. Muhammad Hanif

 

Camille Paldi

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