UAE Civil Transactions Law

Article 417

Book One: Obligations · Section Two: Effects of the Obligation · Chapter Five: Multiplicity of Parties to the Obligation · Part Four: Transfer of the Obligation · First: Assignment of Right

If an attachment is levied on the assignee before the assignment of the right becomes effective against third parties, the assignment shall, as against the attaching creditor, be deemed equivalent to a further attachment. If a subsequent attachment is levied after the assignment has become effective against a third party, the debt shall be distributed among the prior attaching creditor, the assignee, and the subsequent attaching creditor on a pari passu basis, provided that the assignee shall be satisfied, out of the share of the subsequent attaching creditor, to the extent necessary to complete the value of the assignment.

WAWhatsAppTGTelegram