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Abu Dhabi / WAM
The Abu Dhabi Judicial Department (ADJD) organised a remote training workshop for lawyers on the “novelty in the bankruptcy and restructuring system in the light of Emirati and American legislations”.
This was through the training platform of the Abu Dhabi Judicial Academy, with the participation of 120 lawyers registered with the department, in addition to a number of attorneys from the ADJD Government Cases Division.
The Judicial Department clarified the workshop was organised in cooperation between Abu Dhabi Judicial Academy and Lawyers and Experts Affairs Division to contribute to advancement of the legal profession as the
judiciary and endowment.
The speakers reviewed a number of practical examples of bankruptcy and restructuring cases and how they were dealt with in light of the legal developments in UAE and US.
It is also in response to the directives of HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Chairman of the Judicial Department, in working towards improving the judicial performance and enhancing community confidence in the judicial and legal system, which lawyers are considered part of.
In his welcome speech, Counselor Sultan Rashid Al Neyadi, President of the Abu Dhabi Commercial Court, indicated that this course is part of the training plan approved by Counselor Yousef Saeed Al-Abri, Under-Secretary of the Judicial Department in Abu Dhabi, with the aim of preparing local legal cadres that are scientifically and practically qualified according to the highest international standards.
He also highlighted the importance of the partnership relationship between ADJD and the legal sector in providing judicial services that meet the requirements of economic and social development in the Emirate of Abu Dhabi.
During the workshop, Ali Bakhit Al Kathiri, a judge in the Abu Dhabi Commercial Court, spoke about the most important general principles of bankruptcy and means to address the financial difficulties experienced by the debtor. He also gave an explanation about bankruptcy through the UAE Civil Procedures Law and novelty to bankruptcy system in light of Decree Law No. 23 of 2019 amending the bankruptcy system in the UAE.
In turn, Colleen Mary Otoole, An American judge working at the Abu Dhabi Commercial Court, gave a brief history of bankruptcy in the USA and laws regulating bankruptcy in American legislation. She also explained the most common bankruptcies in the United States, as well as restructuring mechanisms in American law.
Chancellor Otoole shed light on the business classification mechanisms at the World Bank, and its relationship to bankruptcy laws.
The speakers also reviewed a number of practical examples of bankruptcy and restructuring cases and how they were dealt with in the light of legal developments in the UAE and US.