9
Articles
1
Chapters
F(/FD
Issuing authority
AI
Cited answers from article text
Federal Decree-Law No. (51) of 2023 Promulgating the Financial Restructuring and Bankruptcy Law — debtor filing duty, company and partner provisions, director liability, employee wages, trustee final account, small debtors (Articles 15, 20, 56-57, 144-146, 182-184, 239-250, 256); court procedure, trustee powers and voting not extracted; Executive Regulation (Cabinet Resolution 94/2024) not read is one of the rulebooks issued by the Federal (Cross-Regulator / Federal Decree-Laws). For compliance officers, legal teams, and advisors working under this regime, finding the right article quickly matters. Lexara indexes the full text of UAE Bankruptcy Law (FDL 51/2023, partial) and makes it searchable two ways: full-text and keyword search for rapid lookup, and AI Explorer for natural-language questions answered with citations to the exact article.
9 articles in 1 chapters, each with a plain-English summary by Arakan. The full text of every article is in the Laws Browser.
Bankruptcy Law Art 15(1)-(3)Debtor application window
Debtors must apply to initiate preventive settlement or bankruptcy within 60 days of failing to pay debts, or they cannot dispose of property post-application.
Bankruptcy Law Art 246Director liability and clawback
Bankrupt directors may be liable for losses due to reckless management or improper asset disposal in the two years before bankruptcy, with claims due within 2 years.
Bankruptcy Law Art 256Emergency financial crisis duties
In emergency financial crises, directors can use assets to pay employees' unpaid wages without liability but must maintain company accounts responsibly.
Bankruptcy Law Arts 20, 240-241Company application needs owner approval
A company's application for bankruptcy proceedings requires approval from relevant partners or owners based on their type of partnership.
Bankruptcy Law Arts 56-57Preventive settlement eligibility
Debtors can apply for preventive settlement after defaulting but must provide evidence and wait 3 months after creditor rejection or court decision.
Bankruptcy Law Arts 144, 146Employees on bankruptcy
During bankruptcy proceedings, employee contracts remain intact unless business cessation is decided, and wages must be paid promptly.
Bankruptcy Law Arts 182-184Trustee final account and closure
Trustees must notify about liquidation completion, attach the final account, and hold a creditors' meeting within specified timelines.
Bankruptcy Law Arts 243-245Partner liability when a company is insolvent
Insolvency applications encompass all active partners, and unpaid partner contributions can be demanded for debt repayment.
Bankruptcy Law Arts 247-250Discharge of small debtors
The court may discharge small debtors with low assets from remaining debts post-bankruptcy, excluding personal debts, public debts, and certain prior discharges.
UAE Bankruptcy Law (FDL 51/2023, partial)'s 9 indexed articles break down by obligation type as follows.
Legal / Board — 7 articles
Trustee — 2 articles
UAE Bankruptcy Law (FDL 51/2023, partial) spans the following regulatory topics, as tagged by Lexara.
bankruptcy
insolvency
preventive settlement
restructuring
liquidation
dissolve
federal
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What is Federal Decree-Law No. (51) of 2023 Promulgating the Financial Restructuring and Bankruptcy Law — debtor filing duty, company and partner provisions, director liability, employee wages, trustee final account, small debtors (Articles 15, 20, 56-57, 144-146, 182-184, 239-250, 256); court procedure, trustee powers and voting not extracted; Executive Regulation (Cabinet Resolution 94/2024) not read?
Federal Decree-Law No. (51) of 2023 Promulgating the Financial Restructuring and Bankruptcy Law — debtor filing duty, company and partner provisions, director liability, employee wages, trustee final account, small debtors (Articles 15, 20, 56-57, 144-146, 182-184, 239-250, 256); court procedure, trustee powers and voting not extracted; Executive Regulation (Cabinet Resolution 94/2024) not read is issued by the Federal (Cross-Regulator / Federal Decree-Laws). It has 9 articles across 1 chapters.
What does UAE Bankruptcy Law (FDL 51/2023, partial) cover?
It is organised into: Federal Decree-Law 51/2023 (Financial Restructuring and Bankruptcy).
Who issues UAE Bankruptcy Law (FDL 51/2023, partial)?
The Federal (Cross-Regulator / Federal Decree-Laws). Always check the authority's official publication for the binding text.
Can I search UAE Bankruptcy Law (FDL 51/2023, partial) and ask questions about it?
Yes. Lexara searches the full text of all 9 articles and answers plain-English questions with a citation to the exact article.
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