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The Liquidation Procedure Program

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The liquidation 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 enable the officeholder to manage the liquidation procedure efficiently and professionally.

Program Objectives:

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

  1. Know of the characteristics, objectives and the role of the officeholder in the liquidation procedure.
  2. Understand the role of the parties involved in the liquidation procedure and their respective powers and competencies.
  3. Master best practices in managing the liquidation procedure at all stages.
  4. Understand the code of professional conduct for officeholders and experts and the ability to apply them.

Program Themes:​

The program consists of two themes according to the following details:​

The First Theme: The Characteristics of the Liquidation Procedure and the Role of the Officeholder (%40)​

In order to effectively manage the liquidation 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 liquidation 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 position of the liquidation procedure and how it is different from other procedures regulated by the Bankruptcy Law.
  2. Know the key characteristics, terms, conditions and the management method of liquidation procedure.
  3. Differentiate between liquidation procedure, small debtors' procedure and the administrative liquidation procedure.
  4. Know the limits of the officeholder's powers and his role in the liquidation procedure.

The Second Theme: Liquidation Management Skills (%60)

The success of any Bankruptcy Law depends on the efficiency and 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 Liquidation procedure and the best practices in the use of these powers.

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

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

Program Targets:

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

Exam Structure:

ThemePercentage

The First: The Characteristics of the Liquidation Procedure and the Role of the Officeholder (%40)

(40%)
The Second Theme: Liquidation Management Skills (%60)(60%)
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.