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Available solutions for business continuity for troubled activities according to the bankruptcy Law

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News Date : 9/17/2023

​The Bankruptcy Commission presented a virtual workshop, in cooperation with the Ministry of Tourism and the Tourism Development Fund, entitled: Available solutions for business continuity for troubled activities according to the bankruptcy Law, on Sunday, ​September 17, 2023 AD.

In this workshop, Ms. Dima Al-Mudahim from the Ministry of Tourism spoke about the most important stages that all economic establishments go through, from the feasibility study stage to the establishment's launch stage and the exceptional stage that some establishments may go through, which is when there is financial distress . Mr. Sultan Al-Saleh from the Development Fund also spoke. Tourism on the classifications of the product portfolio provided by the Tourism Development Fund, which included guarantee products available for small, medium and large enterprises, capital investment products, and lending products. Dr. Abdullah Al-Showaish from the Bankruptcy Commission concluded the workshop by reviewing the solutions available for financial default according to the bankruptcy Law, by talking about the procedures. stipulated in the Bankruptcy Law, and the role of the bankruptcy officeholder who is appointed by the judge of the competent court to manage the procedure initiated to address the financial defaults of establishments.

The workshop witnessed the attendance of beneficiaries of the services provided by the Ministry of Tourism and the Tourism Development Fund, and the workshop concluded by discussing and answering the questions posed by the attendees.

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