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Man in debt of Dhs13.6m declared insolvent
Gulf Today
|April 14, 2025
The Dubai Civil Court declared an Arab man insolvent after he failed to repay debts of Dhsl3.6 million, after losing his job in 2022 and had no source of income or financial assets.
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The court also ordered that the debt or be prohibited from obtaining any credit facilities or entering into financial obligations for three years from the date of the judgment.
Additionally, the court instructed that the details of the judgment be reported to the Al-Etihad Credit Bureau and that the debtor's name be registered in their records of approved insolvents. The case dates back to when an Arab national filed a request with the court to initiate insolvency proceedings and liquidate his assets.
This story is from the April 14, 2025 edition of Gulf Today.
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