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The Saudi Bankruptcy Law: A Seismic Shift | White & Case LLP

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The Kingdom of Saudi Arabia overhauled its corporate insolvency framework in 2018 with the introduction of a new bankruptcy law. In this client alert we examine the new Bankruptcy law in detail.
Executive Summary
The bankruptcy law that came into effect in the Kingdom of Saudi Arabia in 2018 reshaped the legal landscape with regards to the restructuring and liquidation of companies in the Kingdom. It established the framework for the administration of restructuring and liquidation procedures in Saudi Arabia, through the Commercial Courts and a newly formed Bankruptcy Commission. In addition, it set out a number of clearly defined restructuring and liquidation procedures to which a company may be subject, depending on its circumstances, ranging from solvent restructurings to accelerated liquidation procedures, as well as clearly setting out the priority of debts on a liquidation. A number of companies have bee ....

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New Restructuring Era in Debt-Laden Gulf Sets Off Hiring Spree

New Restructuring Era in Debt-Laden Gulf Sets Off Hiring Spree
Bloomberg
1/21/2021
Nicolas Parasie
(Bloomberg) The world’s biggest restructuring firms are boosting their presence in the Gulf region, anticipating a spate of turnaround work as companies succumb to the coronavirus pandemic after years of economic pain.
New York-based Alvarez & Marsal Inc., which worked on the Lehman Brothers Holdings Inc. bankruptcy, has already added three seasoned professionals to its Middle East team this year. The hires are part of an effort to expand to about 150 in the region over the next three to five years from just 10 in 2015, according to A&M’s head for the Middle East, Saeeda Jaffar. ....

Saudi Arabia , United Arab Emirates , Abu Dhabi , Arabia Ahmad Hamad Algosaibi , Saeeda Jaffar , Richard Clarke , Duff Phelps , Al Jaber , Big Four , Health Plc , Consulting Inc , Alvarez Marsal Inc , Arabtec Holding , Houlihan Lokey Inc , Saad Group , Lehman Brothers Holdings Inc , York Based Alvarez , Marsal Inc , Middle East , Bloomberg Non Performing , Dubai World , Ahmad Hamad Algosaibi , Houlihan Lokey , சவுதி அரேபியா , ஒன்றுபட்டது அரபு அமீரகங்கள் , சயீதா ஜாஃபர் ,