Overview

When times were good in the UAE, specifically in Dubai, there was seldom any reason for an insolvency case. As a result of the lack of cases, it became widely believed that the UAE does not have an insolvency law and the general perception was that the systems that are in place are archaic in nature, where debts essentially lead debtors to jail. The perception was wrong. Insolvency law does exist in the UAE and contrary to the above, it’s actually quite sophisticated. This article discusses the UAE’s insolvency provisions and how they work.