We, Mohamed Bin Zayed Al Nahyan, President of the United Arab Emirates
- Having reviewed the Constitution;
- Federal Law No. 1 of 1972 Concerning the Competences of Ministries and Powers of Ministers, as amended; and
- Based on the Minister of Justice's proposal,
Do hereby promulgate the following decree-law:
The Financial Restructuring and Bankruptcy Law, attached with this Decree-Law, shall enter into force and effect.
The provisions of Civil Procedure Law, as well as the provisions of Law of Evidence in Civil and Commercial Transactions, shall apply to all matters not specifically stipulated in the law attached herewith.
1. The Court shall, sua sponte and without fees, transfer all claims, legal proceedings, grievances and actions, which are currently pending before them and are arising out of the above-referenced Federal Decree-Law No. 9 of 2016, to the Bankruptcy Court in whatever condition they presently exist, as of the date on which the law attached herewith enters into force.
2. Clause (1) of this Article shall not apply to the legal proceedings and actions...