The legal representatives to the Trustees Panel

We are thrilled to announce a significant achievement in our role as the legal representatives to the Trustees Panel appointed by the Abu Dhabi Commercial Court – Bankruptcy Department (“Bankruptcy Court”) in Bankruptcy Proceedings No. 07/2021.

At Primecase, we have provided crucial guidance to the Trustees regarding the essential recognition of the Restructuring Plan (“RP”) approved by the Bankruptcy Court. In a remarkable demonstration of international cooperation and legal expertise, we have worked closely with our esteemed counterparts at PCB Byrne LLP (“PCB”) in the UK who served as the lead counsel.

Together, we meticulously prepared and filed a recognition application before the UK competent Court to duly recognize the RP. This collaborative effort between Primecase, as UAE local counsel, leveraging our extensive expertise in UAE Bankruptcy Law, and PCB, serving as lead counsel on the ground, ensured the submission of comprehensive documentation and memoranda.

We are delighted to announce that Primecase and PCB’s efforts have yielded results, with the UK Courts issuing a groundbreaking judgment, recognizing the RP within UK jurisdiction. This pivotal decision not only imposes a stay on all proceedings against the debtors within the UK Courts but also safeguards the execution of their assets located within the UK, thereby protecting the interests of all creditors involved.

This judgment sets a significant legal precedent in the UK, marking the inaugural instance of the UK Courts recognizing a restructuring plan within the framework of bankruptcy proceedings. It underscores the efficacy of international collaboration and reaffirms our unwavering commitment to delivering superior legal outcomes for our clients.

The Primecase team was led by Mohammad Alshraideh (Founding and Managing Partner) and Dr. Mohammad Zaidan (Co-Founding Partner – Head of Corporate and Arbitration), as well as Salem Issam Rawabdeh (Associate). PCB team was led by Trevor Mascarenhas (Partner), David Johnson (Senior Associate), and Eamon Khorsheed (Associate) (all pictured left to right).

Read the full article >> https://lnkd.in/dViH9T27