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Oman likely to promulgate bankruptcy, insolvency laws

Posted on 22 February 2012

Oman is looking at the possibility of promulgating bankruptcy and insolvency laws, said Abdullah Salem Al Salmi, acting executive vice-president of Capital Market Authority.
Participating at the sixth GCC (Gulf Cooperation Council) Regulators’ Summit that began yesterday at the Ritz Carlton Bustan Palace Hotel, Abdullah Salem Al Salmi said, “Oman certainly needs such laws. The idea is there and we are at the discussion level taking inputs from different sources and hopefully, in a short span of time, bankruptcy and insolvency laws would be in place.”……………………………………….Full Article: Source

 
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