Questions & Answers
Questions & Answers
3 available 3 • View allThe relationship between loan settlement and an LLC company liquidation

1
Q: I am a shareholder in an LLC company in Dubai for which we (partners) decided to file liquidation because of the consequence of loss due to COVID 19.
I wanted to know how my personal debts will be treated then? I have one personal loan from Deem finance of outstanding 60,000/- and 3 credit cards of a total outstanding amount 85,000/-.
I have 6 missing installments of personal loan & credit card bills. I left the UAE about 7 months before but now I would like to clear my record.
I need your suggestion to settle my debts. Can I get benefit from insolvency for my personal debt?
Or what's the best way to settle the outstanding amount?


Apr 27, 2021
545
Liquidation of free zone company and settlement of a debt
1
Q: My FZ company has lost its major clients and is no longer able to trade. It has one creditor with an outstanding balance of AED 120,000.
What are my options to close the company down and what are my liabilities regarding the debt?

Nov 14, 2018
1207
Failing to pay the amount of a judgement by the company owner

9
Q: What happens if you are not able to pay any money even after the judgement/execution of a civil case? If there are no assets that can be claimed?
There were a genuine business loss and no money to settle with the bank/court.
Please advise


Oct 7, 2019
1756
Legal blog
4 available 4 • View allThe Legal Alternatives of Bankruptcy in the UAE Legislation 1
The UAE continues to strive to modernize its laws and create more flexibility in meeting the needs and requirements of investors and businessmen and elevate its economy to the highest levels of growth and development.
Apr 9, 2019
2464
Mortgage of Movable Assets in the UAE: A Wanted Change 2
The UAE has taken a bold step toward legislating the mortgage of movable assets after it was completely regulated by the Civil Code. The Federal Law No. 20 of 2016 Concerning the Mortgage of Moveable Assets, which came into effect 90 days after it was published in the Official Gazette on December 15, 2016, was a welcomed change by lenders after it gave them the ability to secure their debts with movable assets.
Oct 20, 2018
2054
Online POA and Other Notary Public Services in the UAE 28
With the introduction of the new procedures for obtaining a power of attorney (POA) remotely in the UAE, after it was mandatory to appear in person in front of the notary public as a global rule to ensure the identity and intention of the person requesting a POA, we put between your hands this brief guide for how you get it done.
Jun 8, 2021
19204
تصفية الشركات في القانون الاتحادي رقم (2) لسنة 2015 بشأن الشركات التجارية 23
للشركات كما للإنسان، دورة حياة. وحيث يبدأ الشيء، فلا بد له من نهاية، ولا باقي إلا الله. وإنه حيث نظم القانون نشأة الشركة، وعقد تأسيسها، فإنه كذلك لم يغفل تنظيم قواعد حلها وتصفيتها، ذلك لأن هذه القواعد بالغة الأهمية والحساسية، فهي تنظم طريقة أداء ديون كافة دائني الشركة، وتحصيل حقوقها، وتوزيع الأرباح أو الخسائر على الشركاء بعد بيان ما لها وما عليها. ونعرض في هذا المقال لهذه الإجراءات بحسب ورودها في قانون الشركات الإماراتي بإيجازٍ غير مخل.
Sep 9, 2020
3926
Laws & Regulations
3 available 3 • View allFederal Law No. (2) of 2015 On Commercial Companies 15
The provisions of this Law apply to the commercial companies established in the UAE and the foreign companies that have established in the UAE a base to conduct any activity therein or established a branch or representative office. The Law abrogates Federal Law No. (8) of 1984 Concerning Commercial Companies.
Mar 25, 2015
29550
Federal Law No. (3) of 1987 Promulgating the Penal Code 29
This Law promulgates the Federal Penal Code (Criminal Law) of the United Arab Emirates. Crimes and chastisement punishments shall be determined in accordance with the provisions of this Law and other penal codes.
Dec 8, 1987
47926
Federal Law No. (18) of 1993 Issuing the Commercial Transactions Law 19
This Law applies to merchants, as well as to all acts of commerce carried out in the UAE by any person even though he be not a trader. Commercial matters regarding which specific Federal laws are issued shall be subject to the provisions of such laws, and to the provisions hereof which do not contradict with said laws.
Sep 7, 1993
33033

Other answers by
58 58 answers •
View allIs it possible to quit a job before completing six months? 0
Dear Sir/Madam,
I work as a stockbroker at a company, but I want to quit because it is not a good job. I have been working there for over four months.
If I ask to leave, the company demands 5000 AED and insists that I complete six months before they agree to my resignation, otherwise, they will ask for the money.
What should I do?
Mar 29, 2023
141
The landlord wants to increase rent above RERA Index. How to renew my contract? 0
My landlord was asking for an unjustified rent increase of 9K, while the RERA calculator showed 3K. He was threatening to go through the Rent Valuation process, however, he only gave me a notice period of 83 days.
According to Dubai Decree No 43 of 2013 and Law No 33 of 2008, landlords are required to provide a 90-day notice period before making any changes to the rental contract, including increasing the rent amount.
Failure to comply with this notice period entitles the tenant to refuse the rent increase.
As the current contract is coming to an end by the end of next week, I have made several attempts to reach out to my landlord and his real estate agent to reiterate my interest in extending the contract and collecting the rental cheques at the old prices.
Also, I kindly requested that they provide me with the contract as soon as possible. Unfortunately, I have not received any response thus far, and considering that this week is a holiday week, I do not know what to do.
Sincerely,
Jun 26, 2023
484
Terminating an employee during probation: 14 or 30 days' notice? 0
Dear Sir/Madam,
If an employee is still on probation period, can the employer terminate the contract with 14 days' notice even if the employment contract states 30 days' notice?
The company is under MOHRE.
Nov 24, 2023
752
Is the RERA Index Calculator the sole source for determining rent increases? 0
Dear Sir/Madam,
I reside in a Dubai community, and my tenancy renewal is approximately 95 days away.
The landlord is proposing a 15% rent increase, primarily based on rents listed on propertyfinder.ae, claiming that my current rent is 25% below market rates.
However, the RERA Rental Index indicates "no increase in the rental value" as my rent is at the top of the quoted range, prompting me to reject the proposed increase.
The real estate broker he hired at the time of my move-in recently contacted me, serving as an intermediary, mentioning that he would conduct a DLD valuation, likely resulting in a higher value.
However, he is attempting to negotiate first, considering the cost of around 2500 AED.
If we were to dispute, is the RERA Index Calculator the sole authoritative source for determining rent increases?
Additionally, if the DLD valuation is accepted, what is the potential maximum increase?
Nov 13, 2023
285
How to collect judgment from LLC with closed office and expired license? 0
Hello,
I have a commercial execution case for the recovery of payments.
I sent a notification to the local owner (100% ownership of the LLC), but I see that the company has closed its office and its license has expired.
How can the courts get the money ordered in the judgment?
Thank you!
Oct 12, 2023
217

Premium
Other answers by
1556 1556 answers •
View allMy cousin has multiple penal judgments of fine and jail. How will this be calculated? 0
My cousin is in the central jail of Al Awir since October 2024 till date 20/03/25. She has 6 different penal cases all judgements are done, last one was done yesterday.
In total, she has a fine of about 135000, 1 month in jail, and deportation in 1 case.
How will this be calculated moving forward?
Also she has spent time in different police station detentions from 23rd May 2024 till October including 48 days or so in Ras al Khaima.
Mar 21, 2025
56
Can I file for mutual divorce from Dubai as an Indian resident and my husband works in Saudi? 0
Needed to know if I am eligible to file for mutual divorce as an Indian expat living in Dubai and holding an Indian passport and also have Canadian PR.
My husband is a Canadian citizen working in Saudi on a work visa.
What are my rights?
Can I ask for alimony?
Can I file for divorce from Dubai?
I have no children from the marriage.
Mar 21, 2025
91
How can I cancel my visa and POA for financial matters if I have a travel ban for company bounced cheque? 0
I am seeking urgent guidance regarding my current visa status in the UAE. I was previously employed by a company that has now shut down, but my visa is still under that company.
During my tenure, I held Power of Attorney (POA) for all financial matters. However, after a cheque issued by the company bounced, the owner revoked my POA without my knowledge.
The company officially closed last year, and the owner (a lady) has been missing since the case emerged.
No one from the company is responding, and I am currently stuck in Dubai due to a travel ban imposed on me related to this case.
I need clarification on the following points:
How can I cancel my existing visa under this closed company?
Will I be able to obtain a new visa under another company despite the travel ban?
Are there any legal blocks or restrictions affecting my visa or employment options?
What legal steps can I take to resolve this situation?
I would appreciate your guidance on the next steps and any possible solutions.
Mar 20, 2025
83
What are my options after my rental renewal offer and deposit was rejected by the owner? 0
Hello,
I submitted an offer and deposit through the trustee office, but the owner rejected it. What is the next step?
They sent an email notification stating that if not renewed within the contract's end time, 500 AED will be deducted for each additional day of stay.
Mar 20, 2025
63
How can I lift my ex-wife’s travel ban on my son and secure full custody? 0
Hello,
My ex-wife has already obtained a travel ban for my 7-year-old son, who has been living with me for more than two years without any support from her.
What should I do to get the travel ban lifted permanently? Should I file a custody case, and will it help?
How can I get full custody of my son, as his mother cannot properly take care of him?
Mar 20, 2025
65
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