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Managing Financial Restructuring Procedure Program

​​​​Managing financial restructuring procedure program is one of the specialized phases for training bankruptcy practitioners, particularly officeholders. The program is a part of the professional training plan implemented by the Bankruptcy Commission under its jurisdiction, provided for in the Bankruptcy Law, issued by Royal Decree No. (M/50), dated 28/5/1439 A.H.

The training material presented during the program is one of the sources recommended by the Bankruptcy Commission to achieve the program's objectives, as well as other frequently used resources. The program relies on the interactive method of acquiring the desired knowledge, skills and behaviors by studying practical case studies, offering a number of solutions and exchanging views with the trainees. It should be noted that the Bankruptcy Commission is working to update the exam structure and sources when needed.

The Overall Objective of the Program:

To provide the trainee with a set of fundamental knowledge, skills and behaviors that enables the officeholder to manage the financial restructuring procedure and conduct his tasks in protective settlement procedure efficiently and professionally.

Program Objectives:

The program aims to help trainees -after finishing program- achieve the following objectives:

  1. Understand the characteristics and objectives of the protective settlement and financial restructuring procedures, and the relationship between them as well as the role of the officeholder in each procedure.
  2. Understand the role of the parties involved in financial restructuring procedure and their respective powers and competences.
  3. Master best practices in managing financial restructuring procedure at all of its stages.
  4. Understand the code of professional conduct for officeholders and experts and the ability to apply them.

Program Theme:

The program consists of three themes according to the following details:

The First Theme: The Characteristics of the Protective Settlement Procedure and the Role of the Officeholder (20%)

The protective settlement and financial restructuring procedures enable the debtor to continue to manage his or her business activities, which requires the trainee to understand the details of these two procedures and the difference between the role of the officeholder in each procedure. This theme reviews the characteristics of the protective settlement procedure and the relevant tasks of the officeholder.

This theme seeks to help the trainee achieve the following objectives:

  1. Understand the key characteristics, terms, conditions and the management method of the protective settlement and the small debtors' protective settlement procedures.
  2. Understand the limits to the officeholder's powers and his role in performing the best practices in the protective settlement procedure, especially in performing the tasks such as signing the proposal, preparing the contract termination report, and write a report about whether the majority of creditors will approve the proposal or not.
  3. The ability to use the best behavioral attitudes that are related to the officeholder's role in a protective settlement procedure.

The Second Theme: The Characteristics of the Financial Restructuring Procedure and the Role of the Officeholder

In order to effectively manage the financial restructuring procedure there has to be a deep understanding of its philosophy and objectives so that the officeholder can apply the regulatory provisions treatment and seek to take the best management methods to achieve the objectives of the procedure. This theme reviews the main concept, terms, conditions, and the effects of the financial restructuring procedure as well as how it is different from other bankruptcy-related procedures.

This theme seeks to help the trainee achieve the following objectives:

  1. Understand the key characteristics, terms and conditions in managing financial restructuring procedure.
  2. Differentiate between financial restructuring and small debtors' financial restructuring procedures.
  3. Understand the officeholder's powers and role in conducting financial restructuring procedure.
  4. Understand the main differences between financial restructuring procedure and other procedures provided by the Bankruptcy Law.

The Third Theme: Financial Restructuring Management Skills

The success of any Bankruptcy Law depends on the efficiency and the good performance of its managers, and although there are serval legislations remedies in the Bankruptcy Law, the efficiency of these Laws varies depending on the outcome of the good management of the bankruptcy procedures and its ability to achieve its objectives. This theme outlines competences and powers of the parties involved in managing the financial restructuring procedure and the best practices in using these powers.

This theme seeks to help the trainee achieve the following objectives:

  1. Know the parties involved in financial restructuring procedure and understand the role, powers and competences of each of them.
  2. The officeholder's ability to apply the best practices when managing financial restructuring procedure at all stages.
  3. The officeholder's ability to apply the best practices when managing small debtors' financial restructuring procedure at all stages.
  4. The officeholder's ability to apply the best behavioral attitudes in managing financial restructuring procedure.

Program Targets:

  • Licensed officeholders.
  • Practicing professionals and experts whose work is related to the Bankruptcy Law.

Exam Structure:

ThemesPercentage
The First: The Characteristics of the Protective Settlement Procedure and the Role of the Officeholder(20%)
The Second: The Characteristics of the Financial Restructuring Procedure and the Role of the Officeholder(30%)
The Third Theme: Financial Restructuring Management Skills(50%)
Total(100%)

Program Certificate:

Attendance Certificate: The trainee is granted an attendance certificate, on the condition that the trainee does not miss (75%) of the course.

Pass Certificate: The trainee is granted a pass certificate based on the following conditions:

  1. Attended at least (75%) of the course.
  2. Get a grade that is not under (60%) in the program exam.

- Passing the program is one of qualification requirements for licensed officeholder.

Program duration:

2 training days 8 hours a day.