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.

Upcoming Programs

July 1, 2020 - September 30, 2020

In July, August, and September 2020, CLDP, in collaboration with USTR and the University of Missouri, will provide virtual business fundamental courses to 20 Salvadoran textile representatives. CLDP has partnered with a textile and apparel expert who will conduct group sessions, as well as tailored sessions depending on the needs and businesses of the selected representatives. Lessons will cover business plan development and implementation, mentorship opportunities, local business resources, and personnel management. Furthermore, the sessions will give the Salvadoran textiles representatives the opportunity to begin developing comprehensive plans to effectively disseminate the knowledge they acquire during this program broadly across the industry with other textile professionals in El Salvador. Participants, who represent the Salvadoran private sector, key government agencies, and academia, will continue to engage their U.S. counterparts in this project for the remainder of the CLDP programming throughout 2021. This project is a part of CLDP’s and USTR’s capacity-building program to improve regional prosperity by fostering human and institutional capacity to improve the competitiveness of the Salvadoran textile industry.

CLDP in Action

December 12, 2019

On December 12, in Manama, Bahrain, CLDP held a workshop focused on technology transfer for representatives from government, academia, and the startup community. 

Read More about Bahrain Innovation and Technology Center Capacity Building Training