A new bankruptcy and insolvency law that has been sent to State Council for consideration aims to boost Oman’s economy and to protect workers’ rights. Saif Ali Shaikhan Al Amri, member of the Economic Committee at the State Council, said: “When a bankruptcy begins in earnest, the first step will be to gather all remaining assets before a judge and a bankruptcy manager, where rights such as salaries and pending payments are distributed as a primary step.” “The step after that involves looking at accrued debts and the loans given. While not saying that the salaries are guaranteed, they are a right which will be given so long as the funds exist to do so,” he added.
The decision to reduce service fee for patents, utility models and industrial designs for students, research centres and…
90 Views | the publication reaches you by | Oman News
The UK and Oman will open a new joint training base in the sultanate early next year. The…
1228 Views | the publication reaches you by | Oman News
Do you have information you want to reach our readers?
You can subscribe to our Facebook, Twitter pages or use our RSS feed channel to always read the most important news about Oman, the Gulf and the world.
