New insolvency law approved for Dubai's DIFC


A new insolvency law has been introduced for companies operating in the Dubai International Financial Centre (DIFC).

It aims to ensure an efficient and effective bankruptcy restructuring regime by balancing the needs of all stakeholders.

It also provides for a new administration process where there is evidence of mismanagement or misconduct, in addition to enhancing the rules related to winding up procedures.

According to a statement from the Dubai Media Office, the new law was subject to substantial research and global benchmarking, as well as thorough public consultation.

It will come into effect on August 28.


More from Business

Coming Up on Dubai Eye

  • Nights on Dubai Eye 103.8

    10:00pm - 6:00am

    Dubai Eye complements the conversation with the music you love from the eighties, nineties and newer.

  • The Business Breakfast

    6:00am - 11:00am

    The Business Breakfast is the day’s must listen for the UAE’s business leaders, and those who aspire to be.


On Dubai Eye

  • Meet Gift, female food delivery driver

    Gift came here from Nigeria and failed to find a job, until a pizza company offered her one. She's now one of the very few female delivery drivers in the UAE.


    Farmer's Kitchen is back for 2021!
    With our partners Spinneys, we are going to help you wave goodbye to boring dinners, cluttered fridges, and lumpy leftovers!