Source: MENA Business Law Review
Saudi Arabia passed a new bankruptcy law last year that incorporated, for the first time in its history, modern alternatives to liquidating businesses. This much-anticipated law was meant to help the country attract foreign investment and support the economy by allowing debtors and creditors to engage in a transparent, predictable and efficient process under the supervision of Saudi's commercial courts. For several years now, judges in these courts have been involved in seminars and training workshops to help prepare them to rule on cases under the new law. An examination of cases decided since the law's enactment reveals the initial impact the law is having and how successful judicial engagement has been.