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Part 3 of the New Insolvency Law Discussion at DIFC

Adrian Cohen
Partner, Clifford Chance

Shahab Haider
Managing Partner, Sajjad Haider & Co

Nicky Reader
Counsel, Clifford Chance

Opening Remarks:
Jacques Visser
Chief Legal Officer, DIFC Authority

Taking place in DIFC Conference Centre, a session was hosted to discuss the enhancements and implications of the newly enacted Insolvency Law. The new law compliments our commitment to international best practice, with the Insolvency Law aiming to support the needs of all stakeholders in the event of distressed and bankruptcy situations in DIFC, facilitating a more efficient and effective bankruptcy restructuring regime. Having come into effect on 13th of June 2019, the law introduces a new debtor in possession bankruptcy regime in line with best practice globally. This also places DIFC at the forefront of complicated debt restructurings.

As Jacques Visser said during the session: “DIFC has always been from an Insolvency restructuring perspective sort of a leader in the region.”

#DIFC #InsolvencyLaw #Dubai

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