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Saudi Arabia: Insolvency Trustee Workshop

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On March 11-12, CLDP conducted training in international best practices of bankruptcy for policy-makers and trustees in the newly-established Saudi Bankruptcy Commission (SBC) in Riyadh, Saudi Arabia. The acting U.S. Trustee for Region 3 (which includes Delaware, New Jersey, and Pennsylvania) and the Acting U.S. Trustee for Region 4 (which includes Maryland, South Carolina, Virginia, West Virginia and the District of Columbia) presented on the trustee's role and U.S. best practices in bankruptcy. SBC leaders also presented on the role of the trustee in Saudi Arabia's nascent bankruptcy regime. In addition to the role of the trustee, topics included managing the relationship between judges and trustees, restructuring, and liquidation. Points of discussion also included selection and training of trustees and professional responsibility. An effective bankruptcy legal regime in Saudi Arabia will provide protections for U.S. companies operating in the region and increase the security of investments in Saudi Arabia.

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