Dubai Chamber webinar examines latest amendments to UAE Bankruptcy Law

Dubai Chamber webinar examines latest amendments to UAE Bankruptcy Law

Dubai, UAE: Dubai Chamber of Commerce and Industry, in cooperation with BSA Ahmad Bin Hezeem & Associates LLP, recently organised a webinar updating businesses on Latest Amendments to the UAE Bankruptcy Law.The webinar was attended by 251 participants, including business owners, managers, lawyers, legal practitioners, corporate counsel, financial managers, chartered accountants, risk managers, financial auditors, and investors representing a wide range of economic sectors. The session was moderated by Lara Barbary, Partner at BSA Ahmad Bin Hezeem & Associates LLP; Barry Greenberg, Counsel at BSA Ahmad Bin Hezeem & Associates LLP; and Musab Iftikhar, Associate at BSA Ahmad Bin Hezeem & Associates LLP.The webinar aimed to help company owners and investors understand the legislative amendments that the UAE introduced late last year to the Bankruptcy Law, allowing foreign investors to learn about the legislative frameworks that preserve their rights and provide them with protection due to the economic impact of the Covid-19.During the session, the speakers shared overview of the latest amendments to the UAE Bankruptcy Law, including procedures before filling a bankruptcy, suspension of the debtor's obligations, duties and liabilities of the Director, settlement with creditors, mechanism of restructuring, as well as financial resources.Jehad Kazim, Vice President - Legal