Disputes included those arising from vehicle rents and real estate settlements. The Ajman Police helped settle financial disputes worth over Dh10.6 million in 2020. Through their special initiative called Falak Tayeb, the police helped restore the amounts to 724 rightful claimants. Colonel Ali Jabr Al Shamsi, Director of the Comprehensive Police Stations at Ajman Police,…
DetailsCovid-19 induced economic uncertainties are a reality in the current business landscape. The UAE governments proactive stimulus packages have been successful in limiting its impact, but some companies have fallen prey to the pandemic. Companies such as Sprii and Gulf Greetings Trading closed their operations in the UAE due to cashflow problems. Firms that decide…
DetailsThe enactment of the Insolvency and Bankruptcy Code 2016 (Code) has had significant ramifications on the corporate insolvency landscape. Over time, the Code has witnessed a manifold increase in litigation, and consequently in the number of decisions. This has made it difficult for insolvency practitioners to stay updated with developments in the field. The purpose…
DetailsA ray of light shone on the owners of troubled SMEs when the Company Law Review Group (CLRG) published its much-anticipated report on restructuring small companies. The owners of SMEs in difficulty have long awaited legislation to make formal corporate rescue, already available to larger companies through examinership, accessible to them. The need for this…
DetailsThe first creditors meeting in the administration of Adelaide-based Australian Fashion Labels (AFL) will take place on January 15. The business entered voluntary administration on January 06, appointing Duff & Phelps administratorsBrett Lord and Marcus Ayres to handle the process. According to reports fromSmart Company,the ongoing effects of COVID-19 as well as legacy costs from…
DetailsIf there’s anything you can count on in an extradition case, it’s that the process will not be simple or brief. Extradition requests are not common over the past decade, Australia has made an average of about a dozen extradition requests each year, and just 82 requests have been granted. Dozens of those requests are…
DetailsWith the Covid-19 pandemic driving up government debt across many nations, there are growing calls for debt swaps to be used to help developing nations achieve a green recovery. This week, two separate research teams from the US and China have called for China in particular to implement such debt swaps in exchange for efforts…
DetailsBanned adverts for two debt advice firms represent just the tip of the iceberg in terms of how people are misled, a leading advice charity has warned. The Advertising Standards Authority this week upheld complaints against two firms, National Direct Service and Fidelitas Group Ltd, about misleading claims they made about their services in paid-for…
DetailsPublished on :30 Jan, 2021 , 7:57 am The National Company Law Appellate Tribunal is the Apex Tribunal in the country dealing with all aspects of Corporate Law. The judgments pronounced by the Appellate Tribunal in the areas of Insolvency, Competition and Company Law regulate all elements of a companys functioning in India; from its…
DetailsThis week, online players in the UK swallowed up some of the countrys most venerable fashion retailers in a dramatic changing of the guard that suddenly gathered momentum. On Monday, digital fast fashion group Boohoo snapped up the 243-year-old department store chain Debenhams, acquiring its intellectual property and website, but not its 130 physical stores,…
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