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.

The Eleventh Circuit’s recent decision in Ullrich v. Welt(In re NICA Holdings, Inc.), Case No. 14-14685, 2015 WL 9241140 (11th Cir. Dec. 17, 2015) demonstrates the importance of carefully selecting legal regimes when deciding to place a company in an insolvency proceeding, such as an Assignment for the Benefit of Creditors (“ABC”), a bankruptcy proceeding, or possibly both with one as an alternative.

People often enter into agreements through which a person or entity borrows money in exchange for a security interest on property that he or it owns. However, in drafting an agreement which establishes a security interest, it is important to make sure that the document is legally enforceable. The bankruptcy court’s order granting summary judgment in Theresa Bender v. Christopher James, Case No. 14-01001-KKS, ECF No. 50 (Bankr. N.D. Fla. Feb. 11, 2015) demonstrates the importance of making sure that such an agreement contains an adequate description of the collateral.