DIFC Courts

First event of DIFC Courts' 2011 Lecture Series to examine insolvency reform and global lessons

Dubai, United Arab Emirates, 24 February 2010: The DIFC Courts, the Dubai International Financial Centre's (DIFC) independent, common law judicial system, will host the first of their thought leadership events of 2011 on "Insolvency in the UAE and Across the World" on Monday 28th February 2011.

The all-day conference will offer an in-depth review of the current status of insolvency regulation and regimes, globally, with a focus on the UAE, the Special Tribunal Related to Dubai World, the DIFC Courts' New Insolvency Regulations as well as a Global Insolvency Law Report, covering the United States, Iceland, UK, Ireland, Spain, Italy, Greece and Portugal. The conference will examine how each jurisdiction's experience can affect Dubai and the UAE and the lessons learned to date.

Speakers from the DIFC Courts, Justice Sir John Chadwick and Registrar, Mark Beer, will present alongside approximately 25 speakers from international law, advisory, accounting and investment firms, including representatives from Clifford Chance, Moelis, Latham & Watkins, Fortress, BTG Mesirow Financial Consulting, Epiq Systems and K&L Gates, Hawkamah, Dubai World, INSOL and the UAE Ministry of Finance.

Participants at next Monday's conference can also hear more about proposed amendments to the DIFC Courts' insolvency rules.

Justice Sir John Chadwick says: "The Conference is a great opportunity to invite feedback on the DIFC Courts' new insolvency rules' updates. The DIFC's Insolvency Law & Regulations are often praised as some of the most comprehensive bankruptcy guidelines in the region. The proposed new amendments, based on UK insolvency procedures, complement the existing framework on insolvency claims and sets out case handling procedures such as lodging an insolvency claim, the advertisement of winding up petitions, hearings, witness statements, use of reports and enforcement of orders.

Registrar, Mark Beer says: "The DIFC Courts Insolvency conference is a milestone opportunity to debate the development of insolvency in the UAE. We have brought together an outstanding set of insolvency thought leaders, who will provide informative insights on insolvency and we expect some very interesting outcomes."