Article (2)
The Amount a Creditor or Group of Creditors to File an Application to
Initiate Insolvency and Property Liquidation Proceedings Against Debtor
The amount set out for a creditor or group of creditors in Clause (1) of Article (29) of the
abovementioned Decree by Law, which entitles them to file an application to a court to initiate
insolvency and liquidation proceedings against a debtor, shall be amended to (AED
1,000,000) one million dirhams instead of (AED 200,000) two hundred thousand dirhams.
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Cabinet Resolution of 2021 Regarding the Determination of The Debt Amount Requiring the Debtor to File an
Application to Initiate Insolvency and Liquidation Proceedings and the Amendment of Certain Timeframes Set
Forth in Federal Decree by Law of 2019 Regarding Insolvency
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