The Possibility of Transplanting Western Bankruptcy Principles to Oman

Saleh Hamed AlBarashdi
2016 Asian Social Science  
<p class="a"><span lang="EN-US">This article investigates the extent of possible transplantation of some western bankruptcy principles to Oman. Such principles include the concept of rescue culture, the notion of 'cram-down', imposition of stay on secured creditors' claims and the concept of 'debtor-in-possession'. It demonstrates the fact that since the start of the legislation path in Oman in 1973, Oman tends to transplant some legal western concepts and such transplantation is accepted.
more » ... n is accepted. However, the author supports the view that before transplanting foreign principles it is crucial to assess their workability and functionality to avoid the risk of rejection.</span></p>
doi:10.5539/ass.v12n4p59 fatcat:ieegb3pldbce5do7xwhl6wd5b4