Who Does the Bankruptcy Law Apply to? - AM Audit | Audit Accounting Firm in DubaiAM Audit | Audit Accounting Firm in Dubai
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Who Does the Bankruptcy Law Apply to?

Not everyone comes under the Bankruptcy Law and it is limited to a clear definition given by the law;

They are;

  • Civil companies in the UAE
  • All UAE companies that are formed under the Commercial Companies Law,
  • All those companies who are fully or partly owned by individual Emirate’s or UAE government
  • All the Freezone Companies that don’t come under the existing bankruptcy laws
  • All individuals that are, under the Federal Law No. 18 of 1993, classified as a ‘Trader’ relating to commercial transactions
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