The effect of bankruptcy on the parties to the financial leasing contract in accordance with recent developments in UAE legislation

Abstract

The study addressed the problems arising from the bankruptcy of the parties to the financial leasing contract and its impact on the continuity of the contract and explained the specificity of the financial leasing contract and the extent to which the UAE legislator addresses these problems in accordance with the financial leasing and bankruptcy laws.

The study concluded with a number of recommendations, the most important of which are: determining the period during which the lessee must return the leased asset to the lessor in the event of termination, expiration, or bankruptcy of the contract in the event that the lessee does not wish to own the asset, and determining the legal status of the supplier in the event that the contract is three-party. And developing legal texts that consider the specificity of the financial leasing contract.