Introduction
The worldwide economic distress caused by the ongoing Covid-19
pandemic has certainly not spared the GCC region. The pandemic has
exacerbated the region's pre-existing economic challenges, many
of which date from the prior distresses that occurred ten years ago
and were never fully remediated. This has led to a knock-on effect
whereby many corporate interests including both debtors and
creditors need to consider insolvency and restructuring options in
order to mitigate the increasing risks.
In recent years, several GCC jurisdictions have enacted new
bankruptcy laws which have provided avenues where distressed
companies can approach and remediate an insolvency scenario.
