The KBBO Group bankruptcy case
The first successfully completed large-scale restructuring under the UAE Bankruptcy Law
In 2016, the United Arab Emirates introduced new bankruptcy laws, which saw the latest amendments in 2021. These laws were implemented with the primary objective of offering both businesses and individuals a structured framework to address financial distress, providing an opportunity for restructuring rather than immediate liquidation.
Within this paper, Deloitte trustees offer an in-depth exploration of practical considerations and key takeaways drawn from our hands-on experience as the Deloitte appointed trustees of the KBBO Group. This comprehensive analysis centres around four main areas:
- Moratorium
- Claims adjudication
- Security review
- Voting process
Our team of insolvency specialists have extensive practical experience with the UAE Bankruptcy Law. Having successfully led the first high profile onshore bankruptcy case in the UAE, we are uniquely positioned to support creditors and debtors in their use of the Bankruptcy Law to provide successful restructuring solutions.
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