Q: Hello Sir, I have a company and have outstanding loans worth AED 1.9 Million. We have been paying regularly for over 2 years now, but I have not been able to pay my last EMI. The next one is due soon but I don't have the provision to pay as the business is very dull. What are the consequences if I cannot pay?

Q: I have issued a cheque that bounced with the amount of AED 247,976.00 on October 30, 2017, but I have paid AED 90,000, and now I have a balance of AED 157,976.00. This is the purchase payment of goods, and after reducing defective products amount, the final balance is AED 130,716.00 (I got the signature of the holder and confirmation of final balance). In this case, will I be fined according to the new regulations between AED 100,000 and AED 200,000? B/regards Emilio Chu

Q: Hello, My father had a criminal case for bounced cheques. He has previously paid a part of the amount but failed to pay the full amount as his company faced losses and closed. He's now facing a jail time of 2 years. Now, the same person is filing a civil case. Could you please tell me how would this end? Thank you very much. (Please do keep in my mind he signed personal cheques).

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

Q: We have an LLC company in Dubai for the last 12 years. We have bank liabilities with one of the UAE banks for which our sponsor has given a personal guarantee. To remove his personal guarantee he has agreed to make a partial settlement of the loan but needs confirmation from the company that when we win one of the arbitration cases and money which we get in Dubai court, he should have first right over that receivables from Court. The receivable amount will be more than what he will pay to banks. 1) Can we create such an agreement and will Dubai court accept this? 2) What is the procedure we can do and give him the confidence to pay money to the bank?

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.

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.