Didier Bruère-Dawson Featured in Arabian Business Magazine
PUBLISHED ON: 02/11/2016
Partner Didier Bruère-Dawson was recently featured in the Arabian Business article, "Rising from the ashes: The UAE's insolvency dilemma." The article discusses filing for Chapter 11 bankruptcy, the practice of restructuring in the Middle East, and barriers with the UAE.
From the article:
Didier Bruère-Dawson is a partner at Brown Rudnick law firm who worked in the Middle East and North Africa (MENA) for 10 years and was one of several lawyers consulted during the drafting of the new law. He told a lawyers’ insolvency seminar at the DIFC last month that the proposed legislation contains four key provisions: a broad moratorium on litigation actions by creditors once a bankruptcy case has been filed; ability to implement restructuring based on a two-thirds creditor majority so minority interests cannot derail the process; debtor’s privilege of interim funding and management so long as secured creditors are adequately protected, and decriminalisation of bounced cheques, “because this is an obstacle to restructuring”.
To read the full article, please click here.