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Getaway Bed And Breakfast Inn Case Study

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Getaway Bed And Breakfast Inn Case Study
Getaway Bed and Breakfast Inn is looking to expand its business in the country of Dubai and as a result there will be a different set of legal solutions available, should the business encounter various related problems. Base on my research findings, listed below outline a set of legal solutions for a range of business problems for Getaway Bed and Breakfast Inn, Dubai location.

Termination of Contract- according to Klconstructionlawblog.com, (2016) a contract in Dubai can be terminated in various ways depending on the type of contract.

Rescue from Insolvency- the law of rescue from insolvency in Dubai is to create a debtor friendly rescue procedures (lexology.com,2012)

Liquidation – In UAE liquidation can be referred to trade …show more content…
The extend of the liquidation proceedings however will depend on the company financial position at the beginning of the liquidation process. The shareholders and creditors of Getaway Bed and Breakfast Inn will gather in a meeting to determine the type of liquidation proceedings. In case of a voluntary liquidation a resolution must be passed for the proceeding to commence and a liquidator is appointed immediately (companyincorporationdubai.com, 2016). On the other hand “in the case of a compulsory liquidation the procedure will begin by court order” (companyincorporationdubai.com, 2016). Should Getaway Bed and Breakfast Inn is whining up their business in Dubai, their name will be erased from the Dubai Trade Register and their commercial license will be terminated. Having a business in Dubai and should that business fails to pay its suppliers and also fails to file for bankruptcy within 30 days of the delayed payment then the company is likely to be deemed as being guilty of a criminal offense (lexology.com,2012). There are various processes available to businesses. Lexology, (2012) stated that for businesses that are not yet insolvent but are in a difficult financial position will be introduced to new-out of court restructure procedures. However if this procedure fails and the business becomes insolvent then the matter now belongs to the court as so to avoid filing for bankruptcy. Additionally a private and consensual arrangement of the debtor liabilities and its creditors may encourage the debtor to satisfy its liability at once or in part. Should the court oversee the entire procedures then they will appoint no less than five creditors to act as a controllers who will act in favor of the
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