The Cabinet adopts some amendments to the bankruptcy law

The Council of Ministers headed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has approved the amendment of some provisions of the bankruptcy law, as part of the government's continuous efforts to continue developing the legal and legislative frameworks for various sectors, especially the economic sector, which is a fundamental pillar within UAE strategy for the next fifty years.

The amendments to the bankruptcy law provide for the addition of new provisions to the law regarding "emergency situations", which are concerned with circumstances that affect trade or investment and that enable individuals and companies to overcome credit difficulties during emergency situations.

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