Bankruptcy laws in UAE

It is known that there is no tolerance for crimes in the UAE. The nation takes stern action on the offenders. Under the UAE laws, there are different laws for different types of crimes. One can visit this website to check out the different types of laws in UAE.

By getting in touch with experts at SM Law Firm by visiting this website, they can easily know more about the legalities.

laws in UAE

This article will talk about the new bankruptcy law in UAE –

In the year 2016, the UAE’s Cabinet has approved the new law bankruptcy law. Before the implementation of the law, business owners and managers would be criminally penalized if their business failed. The penalty also included serving a jail term. This has made a lot of people flee from UAE because of the debts and unpaid loans.

Though the previous laws and articles in UAE dealt with issues, they were mostly addressing smaller companies. However, with the implementation of the new law, there is leverage on the penalty.

With the new law, there is a better legal framework that helps distressed companies in UAE to avoid situations of bankruptcy and liquidation. The new law also attempts to guard the rights of both the creditors as well as the debtors.

This new law applies to the organizations that are established under Commercial Companies Law. The companies may be fully owned or partly owned by the local or federal government, and also the companies established in the free zones in the UAE.

However, one thing is to note is that the new law doesn’t apply to businesses registered in DIFC and Abu Dhabi Global Market

If you are looking for a legal counselor who will help you out with bankruptcy and the laws surrounding it, contact SM Law Firm.

criminal law Dubai

Criminal Law VS Civil Law

With its strict law and order in place, the cases of criminal law in Dubai are comparatively less. The government in Dubai also gives a lot of prominence to civil law. While the civil cases involve private matters and disputes between two or more persons, criminal cases involve the actions that are deemed to be harmful to the society as a

Both civil law and criminal law in Dubai are quite important. One needs to have some basic idea about the two so they can know how to handle. Here is a detailed definition of the two laws –

Civil law

Civil law deals with the cases which involve a person or an entity approaches a lawyer with claims that the defendant failed in legal duties. The two parties reach the court where the defendant is asked to fulfill the duty, or to compensate for the harm done. In some cases, it can be the both.
Civil law is best understood by those you know about legal duties – the rules and regulations established under the constitution.

Criminal law

Criminal cases involve crimes done by a person who is charged in an accusation or an indictment. These involve felonies or other serious crimes. In criminal cases, it isn’t a compulsion that the victim files a criminal case. For instance, if it is a felony, the government is responsible for prosecuting the criminal, the victim isn’t involved.

There can be a few criminal cases, where there may not be a specific victim. For instance, a group of drivers violating the law by driving when drunk, are punishable under the law.

SM Law Firm in Dubai is the best destination for those looking for a credible lawyer with good expertise in the field. They have thorough professionals who deal with all branches of law.