Last Updated on November 9, 2023 by Hina Rubab
A bankruptcy lawyer helps the organizations and the individuals who want to declare their inability to pay their debts. The Lawyers in Dubai or Dubai Lawyers assist them in making the legal declarations that state their inability to pay their creditors. To do so, having a bankruptcy lawyer is necessary to understand the entire procedure. This may appear simple to file for bankruptcy but if an individual takes up this work on their own, it is quite challenging work to accomplish without any knowledge and understanding.
The Dubai Lawyers or Lawyers Dubai are of great help in this aspect as many lawyers are specialized in dealing with such legal matters. They said their clients were filling out the bankruptcy forms and papers. Submitting the papers to the relevant authorities seems to be an intimidating task. Filing for bankruptcy is a complicated task in nature. They will handle the entire procedure from the start till the very end. Therefore, having a lawyer will make this tough task much easier and simple. Dubai Emirati Advocates or Advocates in Dubai, have the priority of hiring for liquidation, bankruptcy.
They also provide legal advice to their clients along with the paperwork. For it, they will meet with the potential client. A meeting is important to review the income and also analyze the debts and assets standing. They will also determine whether filing for bankruptcy is right for them or not. Furthermore, they will also take up the work to determine which chapter of bankruptcy to file for their client under the given scenario. For the service, they can also be considered as legal consultants or legal consultants in dubai.
These lawyers & legal consultants will also determine the date to file for the process along with entering into a contract or agreement with the client. On the approximate date, the attorney will file for the petition with the concerned authorities or with the court. In the procedure, the court will establish the date of the hearing. In this respect, the debtor, bankruptcy trustee, and the client will sit together to discuss the entire scenario. Please note it that legal consultants are only for legal counselling. While the lawyers are for consultations, advisory and court services. Even for meeting experts, mediators and court personnel, lawyers are allowed and these are the Emirati Lawyers only in UAE
Afterwards, the lawyer will make sure that their client fulfils all the obligations needed by the bankruptcy trustee. The attorney will take the responsibility to keep the client updated regarding all the developments taking place. In addition, they will also inform the client about the confirmation and the discharge of the bankruptcy. Dubai Lawyers create a great deal in this regard.