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

In: Arab Law Quarterly
Author: Saleh Al-Barashdi 1
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  • 1 Assistant Professor in Commercial Law, College of Law, Sultan Qaboos University, Muscat, Oman
Online Publication Date:
26 Dec 2018
Volume/Issue:
Volume 32: Issue 1
Article Type:
Research Article
Page Count:
80–97
DOI:
https://doi.org/10.1163/15730255-12313040
Keywords:
preventive composition scheme; rescue culture; Oman

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.

In:
Arab Law Quarterly
E-ISSN:
1573-0255
Print ISSN:
0268-0556
Publisher:
Brill
Cover Arab Law Quarterly
Subjects:
Islamic Law, Middle East and Islamic Studies

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