What is bankruptcy and judicial liquidator in UAE?

It is for the company to declare that it is unable to fulfil its obligations to the creditors, and then the company will liquidate a judicial liquidator in the UAE all its property and bank accounts to pay the largest possible amount of these obligations and then exit the business market.
It is also known that it is a disturbance in the company’s financial conditions, entering into a debt cycle and inability to pay it, or the lack of profits for the company in the long term.
According to what was issued by the UAE legislator and stated in the Bankruptcy Law of 2016, there is another opportunity that the law provides for investors and business owners to advance their faltering businesses again, the objective of this law is to protect the creditor and debtor in accordance with procedures  that it is on the best interests of both parties, and it serves as a lifeline for those who face similar challenges in their business.