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Overview Of UAE's New Monetary Restructuring And Bankruptcy Legislation

213.00 £
Published date: 2024/08/02
  • Location: 4343, New York, United States
The regulation additionally continues to empower bankruptcy courts with discretion, 江戸川区　法律事務所 particularly in declaring transactions non-enforceable if they are detrimental to creditors. The brand new Regulation significantly revises the constraints on debtor actions publish-initiation of bankruptcy proceedings. Unlike the Previous Legislation, which broadly restricted debt repayment and asset disposal, the new Regulation simplifies these restrictions. Adoption of the UNCITRAL Mannequin Legislation on Cross-Border Insolvency (Mannequin Regulation). This makes it considerably easier for Singapore’s restructuring orders to be recognised and enforced worldwide—including in main jurisdictions, like the United States and United Kingdom, which might be signatories to the same Model Regulation.

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