UAE Business: Financial Restructuring Committee forms consultative council – Gulf Digital News

UAE Business: Financial Restructuring Committee forms consultative council – Gulf Digital News

The UAE Financial Restructuring Committee (FRC) has formed a consultative council of the FRC to provide an open discussion forum between the FRC and the experts in the field of financial reorganisation of defaulting companies and bankruptcy cases.

The formation of the council aims to create an interactive environment with experts and experienced consultants in this field, in accordance with best international standards.

The council consists seven members nominated by the FRC members and who are experts in the field of financial reorganisation and bankruptcy.

The consultative council members recently held its first meeting for 2022, in the presence of FRC members as well as experts in the financial field.

During the meeting, Dr Maryam Butti Al Suwaidi, Vice-Chairman of the Committee and CEO of the Securities and Commodities Authority, delivered the opening speech. Additionally, Dania Kurdy, assistant to the committee for the implementation work, delivered a detailed presentation on FRC’s role and tasks.

Dr Hussam Al Talhuni, Legal Advisor to the Minister of Finance and Secretary of the FRC, provided an introductory explanation of the consultative council and its role, vision, and objectives.

Dr Al Talhuni also reviewed the structure and objectives behind the establishment of the council of the FRC.

The FRC will work with