Understanding bankruptcy laws in the UAE and DIFC in the context of COVID-19-related financial pressures.
By Nomaan A. Raja and Aly Kassam
COVID-19 has already caused wide-scale disruption to numerous industries both locally and globally. Whilst efforts are underway to stop the spread and impact of COVID-19, the financial and social impact of the virus will be felt for many months to come. As companies come to terms with working from home arrangements and the new landscape in which they operate, some business inevitably will experience financial difficulties (be it short term or longer term). Governments are releasing stimulus packages which will, no doubt, go some way to assuage some of the impact but given the global impact of the virus it is likely that some businesses will face difficult decisions.
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