The provisions of the Bankruptcy Law shall apply to:
- Companies governed by the Commercial Companies
- Companies not established under the Commercial Companies Law and which are wholly or partly owned by the federal or local government, and which have enabling legislation, or memoranda or articles of association stipulating that this Law applies.
- Companies and Establishments in the Free Zones that are subject to the provisions of Federal Law (8) of 2004 on Financial Free Zones which are not governed by particular provisions regulating protective composition procedures, financial restructuring and/or bankruptcy.
- Any individual who is a “trader” as defined under the Commercial Transactions Law.
- Licensed Civil Companies carrying out professional
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