German legislator finally introduces tax exemption for income resulting from debt waivers in restructuring scenarios with retroactive effect.

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.

To date, a debt waiver has been frequently used as a tool to successfully restructure German-based companies in financial difficulties.