The Bankruptcy Commission, in Collaboration with RolandBerger, Organizes a Webinar Titled Managing Liquidity and Solvency during the COVID-19 Crisis

News Date : 6/2/2020

The Bankruptcy Commission, in collaboration with RolandBerger, organized a webinar titled Managing Liquidity and Solvency during the COVID-19 Crisis on Wednesday, 20 Ramadan 1441, corresponding to 13 May 2020.

The aim of the Commission is to further enhance the understanding of the implications of the measures imposed as a result of COVID-19 on facilities, and that is through managing liquidity, financial flows, and external support.

The symposium was presented by a group of experts and professionals from RolandBerger: Stefan Schaible, global managing partner in Roland Berger, he specializes in global digitization and large-scale business transformation, Rene Seyger, Managing Partner in Roland Berger Middle East, he specializes in financial restructuring, performance improvement and transformation, and Dr. Johannes Distler is a Partner in Roland Berger Middle East, he specializes in financial restructuring, performance improvement, and transformation.

It is worth mentioning that the symposium was attended by (280) specialists who benefited from the symposium and had the opportunity to ask the speakers questions.

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The Bankruptcy Commission, in Collaboration with RolandBerger, Organizes a Webinar Titled Managing Liquidity and Solvency during the COVID-19 Crisis

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Fees' disbursement

When disbursing officeholder's fees in financial restructuring, and small debtor's financial restructuring procedures, the following should be considered

50% of fees is due upon the completion of proposal voting, and it shall cover the phase from procedure initiation to proposal vote

25% of fees is due on court ratification of the proposal

25% of fees is due on completion and submission of the sixth periodical report of plan implementation progress reports

When disbursing officeholder's fees in liquidation, and small debtor's liquidation procedures, the following should be considered

75% of fees shall be paid in the form of disbursements

25% of fees is due on the procedure termination by the court, after the full completion of procedure related duties and tasks, including related lawsuits, selling assets, and distribution of proceeds

Court permission is mandatory for the officeholder to disburse his fees