Undue Debt

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Undue Debt

A debt that one is not yet required to pay. An example is a bond that has not yet matured.

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the debtor has knowingly acknowledged undue debts whether such acknowledgement is made in writing, given verbally, stated in the balance sheet or by abstention from submitting certain papers or explanations; or

undue debts of the company are knowingly acknowledged or documents that need to be submitted are withheld even though they are in possession;

Bankruptcy in the Context of UAE Law No. (18) of 1993 Concerning Commercial Transactions

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