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Preventive Composition Scheme in Oman as a Rescue Scheme: Still a Myth?

Preventive Composition Scheme in Oman as a Rescue Scheme: Still a Myth? This article examines Oman’s Commercial Code’s preventive composition scheme with creditors. Various conditions that a trader needs to meet in order to apply for preventive composition are highlighted. Then, the issues of management displacement, of staying creditors’ actions during the proceedings and of cramming-down dissenting creditors are examined. The article concludes by demonstrating that the preventive composition scheme in Oman is far from being a rescue scheme. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Arab Law Quarterly Brill

Preventive Composition Scheme in Oman as a Rescue Scheme: Still a Myth?

Arab Law Quarterly , Volume 32 (1): 18 – Dec 26, 2018

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Publisher
Brill
Copyright
Copyright © Koninklijke Brill NV, Leiden, The Netherlands
ISSN
0268-0556
eISSN
1573-0255
DOI
10.1163/15730255-12313040
Publisher site
See Article on Publisher Site

Abstract

This article examines Oman’s Commercial Code’s preventive composition scheme with creditors. Various conditions that a trader needs to meet in order to apply for preventive composition are highlighted. Then, the issues of management displacement, of staying creditors’ actions during the proceedings and of cramming-down dissenting creditors are examined. The article concludes by demonstrating that the preventive composition scheme in Oman is far from being a rescue scheme.

Journal

Arab Law QuarterlyBrill

Published: Dec 26, 2018

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