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How to apply Bankruptcy in Dubai?


Question:

I wish to know how to apply for bankruptcy in dubai, as our company unable to renew since 2 years and we contacted all our debtors to pay our dues all run away or closed down without intimating us, also one customer cheated with 800 thousand to our small company. now we unable to renew our licence and the visa of the staffs. need to file bankruptcy to avoid issues, from banks from where we took loans.

Answer:

Thank you for your inquiry.

In furtherance to your query, kindly be advised that a bankruptcy proceeding is very extensive and entails review of company’s financial statements prior to submitting any application for bankruptcy before competent authorities. In such circumstances, we advise you to visit our office for a meeting in order to understand whether or not your company qualifies for filing bankruptcy or if contrary, we can advise you other procedures.

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