Public consultation period ends on 13 March 2011
Dubai, United Arab Emirates, 16 February 2010: DIFC Courts, the Dubai International Financial Centre's (DIFC) independent, common law judicial system, has announced today that it has posted a new part to 'The Rules of the DIFC Courts' for public consultation.
Part 54 on Insolvency Claims sets out the Courts' case handling procedures such as lodging an insolvency claim, the advertisement of winding up petitions, hearings, witness statements, use of reports and enforcement of orders, among other things. The new rules, based on UK insolvency procedures, compliment the DIFC Insolvency Law & Regulations.
The 30 day public consultation exercise runs through to 13 March 2011. The new part has been posted on the Courts website, www.difccourts.ae.
Comments and feedback should be emailed to consultation@difccourts.ae.
As part of its 2011 DIFC Courts Lecture Series, DIFC Courts' will also sponsor a full-day conference on 28 February 2011 entitled 'Insolvency in the UAE and Across the World' that will bring together over 25 experts in the field of insolvency to share best practices and lessons that have been learnt globally.