Contribution of the UAE Bankruptcy Law to Environmental Protection

Abstract

Many individuals subject to bankruptcy law possess establishments, projects, and activities, especially those operating as businesses. Mismanagement of these entities during bankruptcy can have negative repercussions on environmental protection. Since the issuance of Law No. 2003-699 of 2003 on the prevention of technological and natural hazards and the repair of damage, the French law has connected the Enterprise Difficulties Law (formerly known as the Bankruptcy Law) to issues related to environmental protection. Given this, it is useful to question the contribution of the UAE Federal Decree-Law No. (51) of 2023 promulgating financial and bankruptcy law to environmental protection and, consequently, support of one of the pillars of sustainable development.