Restructuring of Distressed Debtor: Concept and Personal Scopein the UAE and Egyptian Legislations
Prof. Amin Dawwas
Professor of Private Law KILAW
Dr. Tareq Kameel
Associate Professor of Commercial Law – Al-Ain University for Science and Technology UAE
Abstract:
This paper discusses the issue of restructuring in terms of concept and personal scope in both United Arab Emirates and Egyptian legislations. The paper addresses the purpose of the restructuring, as well as the legal and juristic definitions of such concept. It also tackles the similarities and differences between restructuring and similar procedures (i.e. finical reorganization and preventive composition), the scope of application of restructuring in terms of the persons (natural and legal) to whom such procedures apply, as well as those who are entitled to file a restructuring petition. It concludes with some recommendations to reform the related UAE and Egyptian Laws.
Keywords: Distressed Debtor, Restructuring, Concept of; Personal Scope of.