س: كانت زوجتى تعمل محاسبة لإحدى الشركات فى الإمارات، ثم تمت تصفية الشركة. فوجئت زوجتي بوجود ٣ قضايا عليها بعد مرور 5 سنوات على إغلاق الشركة.

س: السلام عليكم في فض شركة ذات مسؤولية محدودة، هل يطلب فسخ عقد الإيجار؟

Q: I have a property in Hydra Zone 8 in Abu Dhabi which was under construction for a long time. A few years ago, the company got bankrupted and the restructuring of Hydra LLC was done. During that time, the restructuring committee asked for the name of creditors through newspapers which many people missed, Some were not in the UAE and some did not read the newspapers. Now I need advice on how to get my name added to the list of creditors. There are many more people who would want to the same service.

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?

س: السلام عليكم، كسبت قضية تجارية بسيطة في أبوظبي ضد شركة شحن لم تقم بالشحن أو تسليمي شحنتي. فتحت أمر تنفيذ منذ أكثر من 7 أشهر و إلى الآن لم أستلم المبلغ المستحق لي في الحكم. علمًا بأن الشركة تحت التصفية. كيف أحصل على حقوقي؟ شكرًا جزيلاً!

Q: My bank account is frozen and a travel ban has been issued for an investigation for ‘money prosecution’. How long does it take and how can I survive without money? Any way to clear this up ASAP?

Q: Hi, I established a company in Sharjah Hamriah Free Zone in April 2012. My company's trade license expired eleven years ago (2013), and I never renewed it. I left the UAE before my visa expired (July 2015). Do I still need to liquidate the company?

Over the years the UAE has become a centre of trade and commerce for the Middle East, thanks to its strategic location, excellent connectivity and extensive services to assist with all aspects of business. According to the World Bank's 2016 report, the UAE has ranked 31st in the global index of ease of doing business. This encourages more entrepreneurs to set up different kinds of business entities in the country.

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.

Companies can be wound up by Voluntary Liquidation. This shall proceed as initiated by shareholders or creditors of a company by passing a valid shareholder’s resolution. When a company’s financial mechanism fails, and the company is in financial distress and/ or becomes insolvent whereby it is unable to pay off its debts, the company may file a petition for winding up to the court.

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.

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.