Court declares man insolvent with Dhs632,000 debt

Dubai Civil Court has declared a Gulfnational insolvent with debts totalling Dhs632,000, concluding the insolvency proceedings and lifting the legal effects of the decision to accept his application.

- Mohammed Yaseen

The court also prohibited him from obtaining new loans or financing, or entering into any binding commitments, except for essential needs for himself and his dependants, for a period of three years from the date of the ruling.

According to the case file, the debtor stated that he filed for insolvency before the court and submitted memoranda and documents to the Insolvency Trustee, confirming that the monthly amount required to support himself and his family is Dhs7,600, which is received as a grant, as he has no job or any source of income to support his dependents, including his father, mother, and two daughters in different educational stages, which led him to borrow money.