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UAE’s new Financial Restructuring & Bankruptcy Law: Positive Impact & Opportunities

UAE’s new Financial Restructuring & Bankruptcy Law: Positive Impact & Opportunities 24 September 2024 The changes in the nation’s bankruptcy law addresses enormous liquidity gap and opens opportunities, such as private credit, distressed and stressed investing, SMEs, DIP, rescue financing and NPLs, etc. This law was enacted in India in 2016, leading to a private credit market that has now reached at least $25 billion. This legislation has undoubtedly played a significant role in fostering the growth of small and medium-sized enterprises (SMEs) in India. Similarly, since its introduction in Saudi Arabia in 2018, we can expect to see positive developments as it will be implemented here in 2024. The hope is that this trend extends to other Gulf Cooperation Council (GCC) countries, especially considering the substantial liquidity gap faced by SMEs. This law could provide downside protection and enhance the attractiveness of investments in this sector. Expert Speakers: • Andrew Mortimer, Managing Director, Chief Operating Officer Barclays, Middle East & Africa • Jody Waugh, Managing Partner, Al Tamimi & Company • Omar Al Yawer, Partner, Ruya Partners • Loai Bataineh, Senior Executive Officer, Ominvest Capital • Moderator: Lara Sif Hrafnkelsdottir, Vikingur Management Consultancies – MENA, Private Funds & Family Offices, Principal & Venture Partner