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Recent court service suspensions announced in the UAE – albeit temporary – as part of the government's response to COVID-19 will undoubtedly have an impact on efficacy of debt recovery options available

Credit cards defaults should not be taken lightly, and credit cardholders should be well versed with the aftereffects of such defaults.

Article 409 of the Commercial Transactions Law defines a bank loan as a contractual arrangement where the bank distributes funds to the debtor under agreed conditions.

In Dubai civil cases, if someone proves they cannot pay what the court ordered, they will normally avoid facing an arrest warrant, the emirate's highest judicial body has said.

The active trading of loans made to a borrower that has become unable to repay in full (known as non-performing loans or distressed debt) has been a feature of the North American and European...

Restructuring efforts in the Middle East often face challenges. While revised debt documents may get agreed, underlying business weaknesses persist, leading to repeated distress.

Last month we provided an overview of the new Movables Pledge Law, in the following article we take a more in-depth look.

In the UAE, the regulation of charging interest for borrowed money is governed by Federal Decree-Law No. 31/2021, also known as the Crimes and Penalties Law.

https://www.herbertsmithfreehills.com/latest-thinking/pressure-points-timely-amendments-to-uae-bankruptcy-law-introduced-to-cover

With 2023 now firmly behind us, Walkers' Dubai based capital markets team discuss the year's key transactions and the upcoming trend expectations for 2024.

In the UAE, arrest warrant procedures are governed by the UAE Penal Code, Criminal Procedures Law, and Civil Procedures Law. Warrants are typically issued by judicial authorities...

In the UAE, borrowers who obtain financing from banks or licensed financial institutions or guarantors in rem may grant the lender security over their real estate as collateral for the financing provided.

The private credit landscape across the Middle East is maturing at pace, with sponsors, institutional investors, and arrangers increasingly demanding...

United Arab Emirates is the central shipping point in the Middle East, operating several ports in the country, which contribute substantially to the GDP of the UAE.

Running a business involves taking risks in order to continue to scale new grounds. Sometimes, these risks may not be successful, leading to debts.

The successful recovery of outstanding debts is critical for the financial health and stability of any business operating in the UAE. However, this process can be both time-consuming and complex

On 31 March 2015, the new Federal Law (No. 2 of 2015) concerning Commercial Companies (the NCCL) was issued and published in Federal Gazette No. 577 in the United Arab Emirates (the UAE) (the Official Gazette).

Learn how novation agreements in Dubai transfer rights and obligations, why all parties must consent and how guarantees and mortgages are treated.