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.
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Oman is a country on the Arabian Peninsula. Oman’s official religion is Islam. The coast is formed by…