Ras Al Khaimah Courts launch electronic registration of insolvency file services

The Ras Al Khaimah Courts Department has launched an electronic registration service for an “insolvency file” for all categories of its clients, law firms, individuals and printing offices, as part of the Courts Department’s strategic directions in digital transformation and paperless courts.

Head of the Ras Al Khaimah Courts Department, Counselor Ahmed Muhammad Al-Khatiri, affirmed that in light of the continuous endeavor to provide all judicial services to the courts "remotely" and to facilitate and make customers happy, within the global regulatory standards and laws, the Courts Department allowed dealers to apply for registration of insolvency files to settle their financial obligations electronically and in a manner. Complete, without the need for them to personally attend the department's headquarters, using the department's electronic channels.

As these services are considered a direct application of the insolvency law, which enables the debtor to submit a request without contesting anyone in it to settle his financial obligations in the event that he stops paying any of his debts on their due dates for a period of more than 50 consecutive days as a result of his inability to fulfill these debts.

The debtor's creditor and a group of creditors with an amount of no less than 200,000 dirhams may also apply to the court to open the debtor's insolvency procedures and liquidate his funds in accordance with the provisions of the law.

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