Based on the principle of participation and transparency, the Ministry of Commerce invites the public and those interested to express their opinions and suggestions about the proposal of the Rules of Cross-Border Insolvency Procedures through the following e-mail: (insolvencylaw@mci.gov.sa), deadline 14.01.1442 AH corresponding to 01.09.2020 AD.
The Ministry of Commerce has explained that this proposal aims to improve the commercial environment, so that to raise the level of coordination between courts in the Kingdom of Saudi Arabia and foreign courts, regarding the insolvency procedures. This would help providing the necessary legal assistance, which helps to maximize the debtor’s assets and raise the reliability of contract enforcement.
The Ministry of Commerce invites the public and those interested to participate and express their opinions about this proposal as per the attached form designated for that purpose. The proposal and the relevant form can be viewed by
click here.