Home sports The court refuses to declare insolvency with 1,481 million dirhams

The court refuses to declare insolvency with 1,481 million dirhams

3
0


The Abu Dhabi Family and Civil and Administrative Courts refused to accept a lawsuit regarding the insolvency of a person owed by (1,481,586) dirhams with obliging fees and expenses, because he was unable to provide evidence to lose his money. The details of the case are due to the fact that a person submitted a request to the court to publicize his insolvency and follow the procedures for liquidating his money on a bond that he owes money estimated at (1,481,586) dirhams, and he does not have a job while he stops his commercial work and has become unable to pay his debts and personal obligations. The reasons for the case indicated that insolvency is to surround the debt with the debtor’s money that its debt over its money or equals it according to the text of Article 401 of the Civil Transactions Law, and that if this is proven in the right

source

LEAVE A REPLY

Please enter your comment!
Please enter your name here