Bahrain’s Bankruptcy and Composition Law, promulgated by Legislative Decree No. 11 of 1987, aims to establish a balance between creditor and debtor interests. Honest and unfortunate merchants who suspend payment of their commercial debts are eligible to file for bankruptcy and conclude a conciliation with their creditors. The law also protects creditors from any act taken by the merchant debtors that could harm their interests. ADJUDICATION OF BANKRUPTCY: A petition for adjudication of…
From The Report: Bahrain 2018
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This chapter contains an overview of the legal framework in which local and international investors operate in Bahrain, including a look at the laws governing business in the kingdom and an explanation of the rules covering bankruptcy proceedings.
This chapter contains a viewpoint from Hatim Q Zu’bi, Partner, Zu’bi & Partners.