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.
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All Time | Past Year | Past 30 Days | |
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Abstract Views | 329 | 36 | 0 |
Full Text Views | 145 | 0 | 0 |
PDF Views & Downloads | 25 | 2 | 0 |
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.
All Time | Past Year | Past 30 Days | |
---|---|---|---|
Abstract Views | 329 | 36 | 0 |
Full Text Views | 145 | 0 | 0 |
PDF Views & Downloads | 25 | 2 | 0 |