Decree Risk has become a valuable resource for organisations dealing with large numbers of small and medium Omani enterprises, such as utility companies and banks, who need to submit liquidation claims for unpaid bills and or make an objection to the government to block a legal transformation when any of these small and medium enterprises enter into liquidation or attempt to undergo a legal transformation.
Today, we are taking Decree Risk to the next level by announcing Risk Watchlist—a tool that allows organisations to monitor future risk incidents by adding the CR number of a target company on the Risk Watchlist to receive immediate alerts when any of these target companies appear in a risk announcement.
An example of the case use of Risk Watchlist is the use by a litigation department to monitor a counterparty in a court case or an arbitration. Due to the lengthy duration of court cases and arbitrations, a troubled counterparty in a dispute may decide to liquidate halfway through a case without notifying the other party. If this other party does not submit its claims to the liquidator on time, it loses its chance to recover any money.
Decree Watchlist helps these organisations address this challenge by monitoring the CR of any company they need to track. If this company is involved in any risk incident tracked by Decree Risk, such as liquidation, capital reduction, legal form transformation, or merger, the user will receive an email alert within hours of the risk incident taking place.
Risk Watchlist uses Decree’s own database that is populated daily by monitoring the Official Gazette and all daily newspapers to report all risk announcements.
Decree Watchlist is available free for all Decree users until the end of their current contracts without any additional charges. It will be available afterwards through a bundle subscription.