Countdown to RIDW24: Legislative Changes Mark New Era In Debt Recovery In Saudi Arabia
Six years ago, the Kingdom of Saudi Arabia (“KSA”) introduced the Bankruptcy Law, revolutionizing the legal landscape for liquidation and restructuring. This marked a significant shift by establishing a clear framework for handling insolvent entities. Recently, the Saudi Civil Transactions Law (“CTL”), effective from December 2023, enables creditors to transfer their rights for consideration, potentially…