Saudi Arabia: CLDP Organizes Consultations on Implementing New Bankruptcy Law

April 16, 2018 - April 20, 2018

From April 16-20, a delegation of 16 judges and government officials from the Kingdom of Saudi Arabia (KSA), headed by the Deputy Minister of Justice, participated in consultations on developing a bankruptcy system in KSA and improving the transparency and efficiency of its commercial courts. Participants attended a bankruptcy trial in the U.S. Bankruptcy Court of the Southern District of New York, as well as commercial cases in the U.S. District Court for the Southern District of New York and the New York State Supreme Court’s Commercial Division. The participants learned about the process by which bankruptcy cases are adjudicated in the U.S.; how a transparent and predictable bankruptcy system can help attract foreign investment; the role of court automation and case management technology in ensuring efficient and transparent adjudication of disputes; and valuation methods and the enforcement of cross border bankruptcy judgments, which is becoming increasingly important with the global nature of commercial lending. Earlier this year, KSA promulgated a new bankruptcy law that provides debtors and creditors with court supervised solutions for failing companies, including business restructuring. CLDP was instrumental in the development of the new law and is now collaborating with the Government of Saudi Arabia to train the judges that will preside over insolvency proceedings and the government stakeholders that will regulate the bankruptcy system.

Upcoming Programs

CLDP in Action

May 2, 2018 - May 4, 2018

On May 2-4, 2018, CLDP conducted a Workshop on Transparent and Efficient Procurement in Chisinau, Moldova.  CLDP organized the workshop in collaboration with the Public Procurement Agency of Moldova (PPA) and the Ministry of Economic Development and Trade of Ukraine (MEDT) with support from the U.S. Embassy in Chisinau. The program was attended by 65 public procurement officials from Moldovan government agencies and contracting authorities as well as a delegation of officials from Ukraine. 

 

 

 

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