Saudi Arabia: CLDP Organizes Consultations on Implementing New Bankruptcy Law

April 16, 2018 - April 20, 2018

From April 16-20, a delegation of 16 judges and government officials from the Kingdom of Saudi Arabia (KSA), headed by the Deputy Minister of Justice, participated in consultations on developing a bankruptcy system in KSA and improving the transparency and efficiency of its commercial courts. Participants attended a bankruptcy trial in the U.S. Bankruptcy Court of the Southern District of New York, as well as commercial cases in the U.S. District Court for the Southern District of New York and the New York State Supreme Court’s Commercial Division. The participants learned about the process by which bankruptcy cases are adjudicated in the U.S.; how a transparent and predictable bankruptcy system can help attract foreign investment; the role of court automation and case management technology in ensuring efficient and transparent adjudication of disputes; and valuation methods and the enforcement of cross border bankruptcy judgments, which is becoming increasingly important with the global nature of commercial lending. Earlier this year, KSA promulgated a new bankruptcy law that provides debtors and creditors with court supervised solutions for failing companies, including business restructuring. CLDP was instrumental in the development of the new law and is now collaborating with the Government of Saudi Arabia to train the judges that will preside over insolvency proceedings and the government stakeholders that will regulate the bankruptcy system.

CLDP in Action

October 23, 2019 - October 24, 2019

On October 23-24 in Tunis, Tunisia, CLDP held a workshop to identify potential changes to Tunisian law that would encourage increased cross-border eCommerce transactions for both exports and imports. Over 40 representatives from several government ministries, the private sector, and the NGO community discussed potential amendments to Tunisia’s eCommerce law, customs procedures, central bank currency and payment rules, and other matters.  The participants offered sets of informal recommendations for further action.

ECommerce in Tunisia has not reached its full potential, although there are black market eCommerce websites. Legal changes could help Tunisian SMEs and individuals reach new markets, while also providing opportunities for US sellers.

Read More about Tunisia: CLDP Holds Cross-Border eCommerce Workshop