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

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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.
Original languageEnglish
Pages (from-to)80-97
JournalArab Law Quarterly
Volume32
Publication statusPublished - 2018

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