Skip to main content
LEXAI
In effectCabinet Resolution

UAE Restructuring / Insolvency LawCabinet Resolution 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 Regarding Insolvenc

UAE Federal Decree-Law·Cabinet Resolution No. (47) of 2021

قرار مجلس الوزراء في شأن تحديد قيمة المديونية التي تلزم المدين بتقديم طلب لافتتاح إجراءات إعسار وتصفية أمواله وتعديل بعض المدد والمبالغ الواردة في المرسوم بقانون اتحادي بشأن الإعسار

Authoritative Arabic version per the official UAE Legislation portal

Issued Date
April 21, 2021
Effective from
May 17, 2021
Articles
4
Last synced
Aug 31, 2026
Download PDFOfficial source

Plain-language summary

Determines the minimum debt threshold triggering mandatory insolvency filing and amends timeframes under the Federal Insolvency Decree by Law.

Synced from the official UAE Legislation portal · Plain-language summary by the LEXAI editorial team

Article-level text

Key Articles

4 articles

  1. 1

    Article 1

    Article (1) The Debt Amount Requiring the Debtor to File an Application to Initiate Insolvency and Liquidation Proceedings The debt amount requiring a debtor to file an application to initiate insolvency and liquidation proceedings, pursuant to Article (28) of Decree by Law No. (19) of 2019 Insolvency, shall be (AED 250,000) two hundred and fifty thousand dirhams.

  2. 2

    Article 2

    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.

    -- 1 of 2 --

    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 2

  3. 3

    Article 3

    Article (3) Amendment of Certain Timeframes The timeframes set forth in Articles (28) and (29) of Federal Decree by Law No. (19) of 2019, referred to herein, shall be amended to (65) sixty-five working days instead of (50) fifty working days.

  4. 4

    Article 4

    Article (4) Publication and Entry into Force This Resolution shall be published in the Official Gazette and shall enter into force from the day following the date of its publication. Mohamed bin Rashid Al Maktoum Prime Minister Issued by Us: Dated: 16 Ramadan 1442 A.H. Corresponding to: 28 April 2021 A.D.

    -- 2 of 2 --

Note: The Arabic text of this legislation is the authoritative version as per the official UAE Legislation portal.

Reading shortcut

Ask LEXAI a question about Cabinet Resolution No. (47) of 2021.

Plain-English answers, with a citation back to the exact article. Free to use, no sign-up.

LEXAI provides general legal information, not legal advice. For your specific case, speak to a licensed UAE lawyer.

Ask a question

Keep reading

Related guides

Banking Finance

UAE Bank Loan Deferral Rules: Your Rights When You Cannot Pay

A plain-English guide to asking a UAE bank to defer or restructure loan payments — the CBUAE consumer protection rules that stand behind the request, what banks may and may not do, what missed payments actually trigger, and how to escalate a complaint to Sanadak.

5 min read

Banking Finance

Joint Bank Account Rules in the UAE: Signing Mandates, Death and Divorce

A plain-English guide to joint bank accounts in the UAE — the Commercial Transactions Law article that governs them, either-to-sign versus both-to-sign mandates, the ten-day duty and share freeze when a holder dies, what a divorce or one holder's debts do to the balance, and what non-residents can realistically open.

5 min read

General

Enjaz Abu Dhabi: What Injaz Centres Do and How to Use Them

A practical guide to Enjaz (Injaz) centres in Abu Dhabi — the service centres listed by the Abu Dhabi Judicial Department for case filing, notary public work, attestations and court data entry — where they are, what they handle, how hours differ by centre, and why the Saudi visa platform with the same name is a different thing entirely.

5 min read