Restructuring of Troubled Commercial Projects in UAE Law: Notion and Terms of Application .

Document Type : Original Article

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College of Law - University of Sharjah

Abstract

One of the most important features of the bankruptcy system is the development to keep pace with economic and technological developments in commercial life, and accordingly the UAE legislator sought to keep pace with that development with the issuance of Decree Law No. (9) of 2016 regarding bankruptcy, which was included in the provisions and rules that regulate this system, and the most important of these provisions and rules is restructuring For stalled commercial projects and represents an important axis of sustainable economic development, since this mechanism aims to save these projects from bankruptcy and liquidation and then return to their work, which will lead to the preservation of these projects and then the stability of the national economy. Accordingly, the study came to determine the extent of the effectiveness of the provisions and rules of restructuring in the aforementioned decree-law in achieving the objectives desired by the UAE legislator, which is to save commercial projects from bankruptcy. Through the study, we concluded with many recommendations, the most important of which was the development of special and separate provisions for each of the restructuring procedures and bankruptcy procedures, and not to organize them into one provision, as is the case in the aforementioned decree-law. 

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