Comments on: We Need Bankruptcy Laws in the Gulf! http://www.alphadinar.com/2009/12/17/we-need-bankruptcy-laws-in-the-gulf/ Finance blog focusing on the Arabian Gulf region (GCC) Thu, 09 Feb 2012 01:31:23 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Keynesian http://www.alphadinar.com/2009/12/17/we-need-bankruptcy-laws-in-the-gulf/comment-page-1/#comment-3315 Keynesian Thu, 17 Dec 2009 14:31:57 +0000 http://www.alphadinar.com/?p=2743#comment-3315 I second your request. Such structure would provide the system with more trust, stability, and ability to resist shocks. It is only "natural" that some companies declare bankruptcy. The problem with GCC companies in trouble is that they are constantly on the look-out for a Messiah that would save them from their crises. We all expect the Messiah to come once, but ask GCC companies how many times he passed by and saved them! Update: I was reading news today and found this, (The UAE will introduce a new law “within months” to deal with cases of corporate bankruptcies in the economic downturn, local daily Gulf News reported on Wednesday.) I second your request. Such structure would provide the system with more trust, stability, and ability to resist shocks. It is only “natural” that some companies declare bankruptcy. The problem with GCC companies in trouble is that they are constantly on the look-out for a Messiah that would save them from their crises. We all expect the Messiah to come once, but ask GCC companies how many times he passed by and saved them!

Update:
I was reading news today and found this, (The UAE will introduce a new law “within months” to deal with cases of corporate bankruptcies in the economic downturn, local daily Gulf News reported on Wednesday.)

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