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The Bankruptcy Commission and Monsha’at in Cooperation with the World Bank Complete the Specialized Workshop on Bankruptcy Applications


News Date : 1/31/2019

​Under the Bankruptcy Commission's programs designed to raise awareness about the Bankruptcy Law, the Bankruptcy Commission and Small & Medium Enterprises General Authority (Monsha'at) work in cooperation with the WB Group held the Specialized Workshop on Bankruptcy Applications on Wednesday 24/05/2019 AH/ 30/01/2019 AD for two continuous days. The workshop was enriched by the participation of more than 40 participants from the Ministry of Commerce and Investment, the Courts Commission, commercial departments at the Ministry of Justice, the Saudi Arabian Monetary Authority, the General Investment Authority, Capital Market Authority, Monsha'at and a number of bankruptcy officeholders from different cities in the Kingdom.

This workshop aimed at enhancing the best practical practices, addressing the challenges facing the countries when applying the Bankruptcy Law, and strengthening the law's infrastructure, projects' mechanisms and the obstacles facing the law. The workshop also was designed to highlight some case studies of financial restructuring implemented by several global companies. 

In this workshop, a number of relevant themes were discussed, most notably; bankruptcy guidelines, and the Bankruptcy Law applications; in addition to several case and comparative studies. Furthermore, several issues were highlighted in this workshop, namely; the mechanisms for restricting the debtor's assists and debts, the comparison of the UK bankruptcy procedures, the financial restructuring plan, and business termination through allocation and liquidation.