Saudi Minister of Justice approves new bankruptcy case rules

Justice Minister and President of the Supreme Judicial Council Dr. Walid bin Mohammed Al-Samaani has approved new rules regulating bankruptcy cases’ procedures in commercial courts.(AN Photo)
Updated 19 November 2019

Saudi Minister of Justice approves new bankruptcy case rules

  • Justice Minister and President of the Supreme Judicial Council Dr. Walid bin Mohammed Al-Samaani has approved new rules regulating bankruptcy cases’ procedures in commercial courts

RIYADH: Justice Minister and President of the Supreme Judicial Council Dr. Walid bin Mohammed Al-Samaani has approved new rules regulating bankruptcy cases’ procedures in commercial courts.

These regulations were issued after an agreement with the Supreme Judicial Council, giving effect to provisions of paragraph III of article 97 from the executive rules of the bankruptcy system.

They were developed after a survey of the requirements of those cases’ procedures in commercial courts, exploring competent and relevant authorities’ perspectives, and benefiting from the most notable international experience.

They include 24 articles regulating the procedures for reviewing requests under the bankruptcy system and its executive rules in commercial courts. The provisions of rules included: procedures related to jurisdiction and judicial processes in bankruptcy applications, duties of the unit specialized in managing bankruptcy cases in court, procedures for submitting requests and records, suspension of demands, precautionary applications, the inspection of the application and adjudication and the mechanism for issuing rules and decisions and challenging them.

Some of the most important rules which will be enacted after being published in the official gazette are: charting the course of bankruptcy cases from presenting the application until adjudicating it, and determining the case’s timeframe while taking into account the nature of bankruptcy cases. The rules also included activating the role of the administrative unit specializing in bankruptcy cases, and benefiting from modern electronic means in processing those cases, in support of the speedy completion of bankruptcy cases and the improvement of procedural labor in commercial courts which will lead to increased efficiency in bankruptcy cases.

They are expected to have an important effect in the Kingdom’s future classification for resolving bankruptcy cases in the World Bank's annual Doing Business report.


Fifth Jeddah International Book Fair opened by Makkah governor

Updated 12 December 2019

Fifth Jeddah International Book Fair opened by Makkah governor

JEDDAH: Prince Khalid Al-Faisal, the governor of Makkah, officially opened the fifth edition of the Jeddah International Book Fair on Wednesday.

The prince toured the event, at which 400 publishing houses from 40 countries are taking part, and honored three renowned figures from the local literature and media scenes: Dr. Hashem Abdo Hashem, the former editor in chief of Okaz newspaper; writer Abdel Fattah Abu Madian; and writer Meshaal bin Muhammad Al-Sudairy.

Prince Mishaal bin Majed, the governor of Jeddah and chairman of the exhibition’s Higher Committee, thanked Price Khalid for his support of the fair since it was founded. He also expressed his gratitude to King Salman and Crown Prince Mohammed bin Salman for their great support.

He added that the success of the event is the result of the hard work of a number of organizations. In particular, he wished the Ministry of Culture continued success in organizing the fair as part of its efforts to develop culture in the Kingdom as one of the pillars of Saudi Vision 2030.

Other VIP guests and dignitaries at the inauguration of the fair included Prince Badr bin Sultan, the deputy governor of Makkah; Prince Saud bin Abdullah, adviser to the governor of Makkah; and Prince Khalid bin Mishaal, deputy governor of Jeddah.

The book fair continues at Land of Events in South Abhur until Dec. 21.