A senior lawyer said that local courts are ill-equipped to handle the types of restructuring and bankruptcy procedures set out in the provision of the UAE’s draft bankruptcy law. Essam Al Tamimi, the founder and managing partner of law firm Al Tamimi and Company said that the draft law, once enacted, may place a significant strain on the courts and public prosecution system, with the need for a large increase in trained insolvency practitioners. He further said that the law is very well drafted and very comprehensive, with well-structured provisions equivalent to Chapter 11 [in the US] that will protect insolvent companies from going bankrupt, however his main concern is the practicalities. (Arabian Business)