Regional news: Saudi Arabia

Kuwait telecoms company allowed to serve second bankruptcy petition on Saudi prince

A Kuwaiti telecoms group has won permission to serve a second bankruptcy petition on a Saudi prince after he again failed to convince the High Court in London he has no place of residence in the UK.

19 May 2023

Financial Restructuring MENA, Abu Dhabi: a wish list for the future

Specialist insolvency judges, greater clarity on the priority status of new money and better understanding and cooperation between onshore and offshore regimes: speakers from law and advisory firms, funds and banks in the Middle East provided food for thought for future restructuring reforms in the UAE and Saudi Arabia.

16 March 2023

Latham’s Saudi restructuring leader to join Addleshaw in Riyadh

Addleshaw Goddard has recruited Latham & Watkins counsel Amar Meher to lead its restructuring, banking and finance practices in Saudi Arabia.

15 March 2023

Saudi adds cross-border bankruptcy rules based on UNCITRAL Model Law

New procedures for recognising and enforcing foreign bankruptcies have been introduced in Saudi Arabia for the first time, which one local lawyer tells GRR should help to encourage investment in the country.

19 January 2023

Bahraini bank’s liquidators seek recognition in Cayman and England

Charles Russell Speechlys is seeking recognition of its appointment as liquidator of Bahraini investment bank Awal in the Cayman Islands and England, one month after a Bahraini court ordered the bank’s liquidation following a decade-long administration.

13 December 2022

DWF hires in Riyadh

London-listed international firm DWF has recruited a new partner in Riyadh from Saudi industrial investments company Dussur, who has credits on several restructurings in the MENA region.

02 November 2022

Teneo hires new leaders in the US and Saudi Arabia

Teneo has appointed new leaders in the US and Saudi Arabia from lender and credit asset manager Golub Capital and financial services group Swicorp.

19 May 2022

Deloitte, Latham and LawArche complete Saudi construction group restructuring

A pair of Saudi Arabian construction and contracting companies have completed restructurings under the Kingdom’s four-year-old financial reorganisation regime, with the help of Deloitte, Latham & Watkins and Middle East-focused firm LawArche.

13 April 2022

English court permits service of bankruptcy petition on Saudi prince

A Kuwaiti telecoms company may finally serve a two-year-old English bankruptcy petition on a Saudi prince, after the High Court reasoned the prince’s name being registered for council tax in London meant he had a place of residence there.

05 April 2022

US$2bn Saudi restructuring marks first local use of perpetual sukuk

Updated: King & Spalding, Deloitte and Latham & Watkins have helped close the US$2 billion restructuring of Saudi Arabian construction group Azmeel Contracting under the kingdom’s four-year-old bankruptcy law, in what is the first time perpetual sukuk have been used for a Saudi restructuring.

04 February 2022

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