The UAE Bankruptcy Law (Federal Decree-Law No. 9 of 2016, amended in 2023) provides mechanisms for business rescue and debt restructuring. Our insolvency lawyers in Dubai guide businesses and individuals through financial distress with pragmatic, expert advice.
UAE Bankruptcy Law Overview
UAE bankruptcy law provides three main procedures: Preventive Composition (for viable businesses needing restructuring), Bankruptcy (for insolvent companies), and Administrative Liquidation (for simple asset liquidation). Our lawyers advise on the most appropriate procedure.
Business Restructuring Options in Dubai
Out-of-Court Restructuring
Many financial crises in Dubai can be resolved through private negotiation with creditors, standstill agreements, and debt-to-equity conversions, avoiding formal insolvency proceedings entirely.
DIFC Insolvency Proceedings
DIFC companies have access to DIFC-specific insolvency procedures including administration and receivership under DIFC Insolvency Law No. 1 of 2019.
Personal Insolvency in Dubai
Individuals overwhelmed by personal debt in Dubai can apply for individual bankruptcy protection, providing relief from creditor pressure while developing a repayment plan under court supervision.
Contact our insolvency lawyers in Dubai for confidential restructuring advice: +971506275196.