A bankruptcy or insolvency law was promulgated by the UAE as early as 1973, which was later amended under the UAE Federal Commercial Transactions Law No. 18, in 1993. Judge Mohammad Yousuf, Deputy Director of Dubai Courts, told Gulf News that Article No. 645 to Article No. 900 of the UAE Federal Commercial Transactions Law No. 18, 1993 are clear and covers all aspects of bankruptcy pertaining to merchants and companies. "The UAE Bankruptcy Law is similar to the international bankruptcy laws," he told Gulf News in an exclusive interview. Latest UAE News, January 2008
