FHS & MMA is considered one of the most important debt collection and legal consulting companies in financial affairs, taxes, licensing, company formation, risk and compliance laws, contracts and partnerships in the Emirates. It provides debt collection services owed from individuals and companies at reasonable costs.
What is meant by consideration? Perhaps the most embarrassing and damaging cases are bankruptcy cases. After the legal procedures are terminated, and the consequences of that are preventing the bankrupt merchant from controlling his money, and depriving him of some rights, whether civil or political, and after implementing the ruling, the merchant tries to regain his work, reputation, and the community’s trust in him again, and therefore he applies to the court with a request for rehabilitation. There are two types of rehabilitation : one is called legal rehabilitation and the other is judicial rehabilitation. What is the definition of each and what is the difference between legal rehabilitation and judicial rehabilitation? Let us learn about these two types in the following lines Restitution of legal consideration Article No. 1 of Federal Law No. (36) of 1992 A.D. states that a person convicted of any criminal or misdemeanor case, or any case of any kind related to honesty and honor, has the right to be restituted if he was sentenced in a criminal case in which five years have passed, whether the sentence has been executed, or he has been pardoned, or its term has been forfeited. Likewise, if a misdemeanor has been ruled, three years have passed since its execution. UAE law stipulates the eligibility to claim restitution in the following cases:
Any bankrupt merchant, according to UAE law, has the right to apply for rehabilitation to the court that issued the bankruptcy judgment against him, provided that he pays the cost of publishing a summary of the application in one of the daily newspapers. How to submit a refund request
When does the court allow the rehabilitation of the bankrupt trader? According to the law of the United Arab Emirates, a new opportunity is available to the bankrupt merchant, and a judgment is issued to erase the bankruptcy precedent from his commercial register, after three years have passed since the issuance of his bankruptcy judgment, and thus the bankrupt merchant can restore work in the business. business activity again. In special and specific cases, the court may allow the bankrupt trader to submit a request for rehabilitation before the lapse of three years from the judgment declaring his bankruptcy, provided that:
What is the rule of fraud? Linguistically, deception is misleading, whereby a merchant convicted of bankruptcy misleads others, and makes false and untrue statements, so he cannot be rehabilitated unless he pays all dues and interests, or if he passes. Three years after the execution of the penalty, or the penalty lapses by statute of limitations. Is the opinion of the creditors taken into account in the case of rehabilitation? Yes, of course, the law of the United Arab Emirates grants the creditor the right to submit a written objection to the court within thirty days of publishing the rehabilitation request, and even after the court issues in favor of the rehabilitation requester, the creditor can submit an objection, and if the court rejects it, he has the right to file another objection after six months of his rejection, and the court reserves the right to cancel the rehabilitation judgment even after its issuance. If other judgments appear against the merchant, of which the court was not aware. For more information and inquiries about all corporate and bankruptcy cases, debt collection, criminal cases and misdemeanors, do not hesitate to contact the most skilled experts. Legal and the best lawyers in Abu Dhabi and they will not hesitate to provide any assistance or legal advice or follow-up for all types of cases in the various courts of the Emirates and outside. The UAE FHS_Office #Legal_Consulting# Office No. 402, Al Reem Plaza Tower, Electra Street - Abu Dhabi: Contact 025658768 023071177 info@fhslawfirm.com