THE IMPLEMENTING REGULATIONS
Nearly six months after Saudi Arabia approved its first
Bankruptcy Law (Saudi Arabia Royal Decree No. M5/1439 and Saudi
Arabia Cabinet Decision No. 264/1439), the Kingdom's Council of
Ministers has adopted the new law's Implementing Regulations in
Saudi Arabia Cabinet Decision No. 622/1439 which was published in
the Official Gazette, Issue 4744 on 4 September 2018," Dario
Najm states.
"These Regulations organise the different types of
proceedings under the Bankruptcy Law before the relevant courts.
Short notification periods have been given for all procedures
mentioned in the Bankruptcy Law and technology is also to be used
in all the relevant procedures, including notification by
electronic means, e.g. SMS messages will be sent through
authenticated mobile numbers, emails or accounts registered in any
of the Government's electronic systems. In addition, in another
move to modernise, all meetings involving bankruptcy (likely to
