Eisar took part in the Regulatory and Legislative Colloquium organized by INSOL International in collaboration with the World Bank, held in Hong Kong on Tuesday, March 18, 2025. Eisar participated in the session focused on the key features of effective judicial systems in the field of insolvency.
During the session, the Secretary-General of Eisar presented the Saudi experience, highlighting the following key points:
The legislative and regulatory developments and the ongoing economic transformation in the Kingdom of Saudi Arabia, which offer leading opportunities for investors under Vision 2030.
An overview of the Kingdom’s distinguished legal framework for addressing financial distress and supporting economic growth.
Insights into the maturity and flexibility of the Saudi Bankruptcy Law, including its broad applicability and notable features such as simplified restructuring procedures for small and medium enterprises.
Efforts since 2018 to ensure successful restructuring processes and collaboration with key stakeholders.
Initiatives to enhance the bankruptcy environment through improved understanding and implementation of the law, supported by non-binding legal tools such as procedural guides and journey maps.
Eisar’s roles and contributions, including law and regulation review, setting standards for licensing trustees and experts, managing the insolvency register to ensure transparency, and delivering professional training and development.
The strength of the Saudi judicial law, which includes specialized courts, dedicated insolvency divisions, procedural rules, and the adoption of cross-border insolvency rules aligned with UNCITRAL standards—facilitating access for foreign trustees and creditors.
The Kingdom’s advanced legal framework for alternative dispute resolution mechanisms, such as arbitration and mediation, and its status as a signatory to the New York and Singapore Conventions on the recognition of international arbitration awards.
The colloquium was held alongside the INSOL Hong Kong Conference from March 17–19, 2025 (17–19 Ramadan 1446 AH), which addressed key global topics in restructuring and liquidation.
Eisar’s participation in this event reflects its mandate to organize and sponsor initiatives aimed at raising awareness of the Bankruptcy Law and its commitment to engaging in relevant activities and international events.
