Federal Judiciary Council Establishes Regulations For Bankruptcy Court Jurisdiction In Abu Dhabi

The Minister of Justice, Abdullah bin Awad Al Nuaimi, who also serves as President of the Federal Judiciary Council, has announced a new decision concerning the Bankruptcy Court's regulation. This court will be based at the Abu Dhabi Federal Courts of First Instance and will handle all cases related to the Federal Decree-Law on Financial Restructuring and Bankruptcy.

Additionally, the Federal Judiciary Council has the authority to establish additional court locations in other Emirates if necessary. These locations would operate under the main court's jurisdiction and address similar applications and disputes. The court will have a President with a rank no less than an appeal judge and several specialised judges appointed by the Federal Judiciary Council.

A Bankruptcy Department will be set up within the court, led by a judge of at least appeal judge rank. This department is tasked with receiving applications, objections, and grievances. It will also register applications and notify relevant parties according to legal provisions. The department ensures that applications for preventive settlement, restructuring, bankruptcy declaration, and other types meet all required information and documentation standards.

The decision outlines administrative units linked to the court and their specific roles to ensure efficient operations. Special provisions are included for bankruptcy experts and consultants. The court may enlist experienced individuals for tasks like managing debtor assets, enforcing precautionary measures, speeding up proceedings, meeting creditors, and summoning debtors or their representatives regarding debts or business matters.

This decision marks a significant step in creating a supportive legal environment for financial stability. It aims to speed up procedures while balancing justice requirements with economic activity continuity. The approach adheres to high standards of efficiency and transparency.

With inputs from WAM