Down With The Details

Earlier this year Saudi Arabia issued a historic new Bankruptcy Law (Saudi Arabia Royal Decree No. M5/1439 and Saudi Arabia Cabinet Decision No. 264/1439), the Kingdom’s Council of Ministers has adopted the new law’s Implementing Regulations in Saudi Arabia Cabinet Decision No. 622/1439 which was published in the Official Gazette, Issue 4744 on September 4,…

Commentary on the Saudi Arabian Bankruptcy Law

The Saudi Arabian Bankruptcy Law complies with the best international practices and gives Saudi Arabia a legal infrastructure to deal efficiently with companies that get into financial difficulties, paving the way to achieving financial stability while simultaneously benefiting both creditors and debtors.  The article discusses preventative settlement, financial reorganization and restructuring, liquidation process, as well…