Saudi Arabia recently published a new Bankruptcy Law. This is the latest development of a string of reforms under Vision 2030 to further encourage the participation of foreign and domestic investors by structuring the business legal framework. This article provides a general analysis of the new bankruptcy law and its implications for businesses operating in the Kingdom.
On April 20, the House Committee on Financial Services held a hearing to discuss public policy issues raised by last month’s report of court-appointed bankruptcy examiner for Lehman Brothers Holdings Inc. (Lehman Brothers), Mr. Anton R. Valukas. The Committee heard testimony from the following witnesses:
Panel One:
USA, Capital Markets, Insolvency & Restructuring, Alston & Bird LLP, Bankruptcy, Audit, Board of directors, Accounting, Defamation, Balance sheet, US Securities and Exchange Commission, Federal Reserve (USA), FSAB, US House Committee on Financial Services, Chair of the Federal Reserve, Lehman Brothers, Ernst & Young, Chief executive officer