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Emaar’s US subsidiary files for bankruptcy

Emaar’s US subsidiary files for bankruptcy

Plus, Al Ahlia Holding seeks $157m bail out; iPhone on sale in UAE; Emirati suspect escapes Cairo to Lebanon via Dubai; UAE plans to boost defense system

February 22, 2009 3:40 by





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2 Comments

  1. Richard on February 22, 2009 9:40 am

    Why is it that the USA allows bankrupcy and the UAE does not have such laws? Which how ever that law protects the company’s rights as well as individuals!! But here in the UAE, if the company goes down due to depts… then the Owner of that company goes to jail! What kind of law is that?!!

     
  2. Irfan Yousuf on February 22, 2009 9:59 am

    I guess that in these turbulent times, it is important to have corporate as well as personal bankrupcy laws in place to safeguard the intersts of all concerned.

     

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