Hawkamah Explores Legal, Financial and Policy Impact of Insolvency and Restructuring in the Region at the 2nd Judicial and Financial Colloquium
Hawkamah Explores Legal, Financial and Policy Impact of Insolvency and Restructuring in the Region at the 2nd Judicial and Financial Colloquium
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Hawkamah, the Institute for Corporate Governance held the second Hawkamah MENA judicial and financial colloquium at the Dubai International Financial Centre (DIFC) today. The two day event is being held in partnership with the Abu Dhabi Council For Economic Development (ADCED), DIFC Courts, Dubai Judicial Institute, European Bank For Reconstruction and Development, ICAEW Middle East, INSOL International and The World Bank Group. The participants of the colloquium examined the legal, financial and policy dimensions of insolvency and restructuring through case studies on restructuring and panel discussions on insolvency law reforms. H.E Fahad Saeed Al Raqbani, Director General of ADCED delivered the keynote address at the event. The event is being organized under the umbrella of the Forum for Insolvency Reforms in MENA (the FIRM), the founding members of which are Hawkamah, the World Bank, INSOL International and the OECD. Other key speakers include Nick Nadal, Head of Hawkamah & Mudara IOD, Gordon Stewart, President INSOL International, Pierre Kanaan, Senior Director Central Bank of Lebanon and Mahesh Uttamchandani, Global Product Leader, Investment Climate The World Bank Group. H.E Fahad Saeed Al Raqbani said, “I am pleased to participate in this Judicial and Financial Colloquium organized by Hawkamah as this event is being held at a time when the legislation relating to the financial restructuring in the UAE has been completed and the UAE is in the process of issuing a new Bankruptcy Law. This colloquium brings together regional and global experts on insolvency and restructuring enabling the participants to discuss and debate the regions insolvency and restructuring frameworks and benchmark and compare them against international experiences. Likewise, our region has some successful business reorganization cases which I am sure the international insolvency and restructuring experts will find interesting to hear about and will have something to take away from hearing these unique stories.” Mr. Nick Nadal, Head of Hawkamah and Mudara IOD added that, “Modernization of the restructuring and governance frameworks have assumed even greater importance in our region as several companies are going through or are exploring going through a restructuring process as a result of the changing economic landscape. The reform of insolvency and restructuring regimes require us to take a holistic view and explore the impact of the framework in other related laws such as Labour laws, Company Law, Mergers, Acquisitions and Takeover Laws. Beyond the institutional reform challenges, there have been countries in the region that have gone through the process such as the United Arab Emirates and can share their experience within the regional context. The UAE has experienced successful restructuring of troubled UAE companies and successful reorganization of family businesses. The mix of regional and international speakers and audience at this two day colloquium provides an excellent opportunity to share regional experiences and hear international perspectives on internationally accepted yet practical Insolvency and restructuring framework for the countries of the region.” He concluded, “Corporate restructuring is intrinsically linked to corporate governance. Reorganizations involve a change in governance structures of an organization as well and hence a good corporate governance framework needs to be complemented by an effective, efficient insolvency and restructuring framework with well-established debtor and creditor rights regimes.”

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  • The certified Board Secretaries Workshop provided by Hawkamah and Dubai Financial Market is an essential course for learning corporate governance, scope and responsibilities of the board secretary and understanding the governance and disclosure requirements of the Dubai Financial Market and the Securities and Commodities Authority. It is a practical course which combined recent best practices and key learning lessons. I would highly recommend it for people involved in corporate governance and in particular in a listed company.

    Omran Al Zamani - Senior Legal Counsel - Dana Gas PJSC

  • Great program! Very well done and very useful information delivered in an excellent manner. The workshop was very inspirational, energizing, bringing lots of ideas, with both substantial and in-depth knowledge together with case studies. Well-balanced composition of participants, which contributed to interesting and focused discussions and exchanges. I would highly recommend it to anyone that is interested in improving their proficiency and core competencies.

    Hassan Murad Agha - Group Head of Compliance & Internal Control - Gulf General Investment Co. (PSC)

  • All companies should promote their boards, executive managers or staffs who have board responsibilities for subsidiary companies to attend corporate governance training. Hawkamah provides the ability for people and companies in the GCC to upskill in the area of corporate governance and directorship through a comprehensive programme teaching international best practice which has been tailored to regional specific governance issues.

    Alastair Mulligan - VP Asset Management - National Central Cooling Company PJSC (TABREED)

  • I am truly honored to attain this certification and I recommend the Compliance Heads of all DFM listed companies to participate and achieve this certification.

    Nabeel Mirza - Senior Director & MLRO - Compliance - GFH Financial Group B.S.C.

  • The workshop has added a level of professionalism to my practice. It addressed and discussed  the right concepts to promote better governance and effective support for business in line with rules and procedures.

    Osama Issaq Al Haj - Head of Legal & Board Secretary - Dubai Islamic Bank

  • A very interesting and informative course which has helped me to adapt my Board Secretary knowledge further to my role as Company Secretary.

    Hamad Al Hosani - Group Company Secretary - Emirates NDB Bank

  • Anyone who wants to enter the world of boards and governance; this is your passport.

    Jehad A. Kazim - Director - Legal Services Dubai Chamber

  • The Directors Development Program was one of the most beneficial programs I attend during my career life. The strength of the program comes from the way it was structured as each part covered very important aspects of the required management role.

    Nada Ishaq Abdul Karim - Manager - The Secretary of The Board of Directors - Bahrain Islamic Bank BSC

  • The DDP offered by the Hawkamah Institute is an excellent course to prepare directors to understand and fulfil their obligations properly as members of the board. I have benefitted immensely from this program and have started to implement some of the best practices taught on the boards that I am involved in.

    Amir Arab - Director - Havenvest Private Equity Middle East Limited

  • The Director Development Program is great way to gain insight and improved understanding in areas such as corporate governance and board functionality. I would highly recommend the program as a foundational step before they begin their board experience.

    Bindu Ann Joseph - Chief Operating Officer - 3W Networks

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