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Bankruptcy and Financial Restructuring

Practice

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Call: +966 (0)12 6503 - 400/494

MAK is honored to be among the first firms in Saudi Arabia to offer specialized services in protective settlement, liquidation, and financial restructuring procedures, in full compliance with the provisions of the Saudi Bankruptcy Law, as enacted by Royal Decree No. (M/50) dated 28th of Jumada II, 1439 AH, corresponding to 14th of February, 2018 CE, (SBL) and its Implementing Rules issued on 24th of Dhu al-Hijjah, 1439 Hijri, corresponding to 4th of September, 2018. MAK provides a comprehensive range of legal services related to bankruptcy and financial restructuring in accordance with the SBL.

Services Provided by MAK

MAK provides legal advice and services, including inter alia, the following matters:

  1. Advising and carrying out the needed legal procedures and requirements to commence and complete the protective settlement procedures as per the SBL before the Bankruptcy Circuit in the Commercial Court;

  2. Advising and carrying out the needed legal procedures and requirements to commence and complete the liquidation procedures as per the SBL before the Bankruptcy Circuit in the Commercial Court;

  3. Advising and carrying out the needed legal procedures and requirements to commence and complete the administrative liquidation procedures as per the SBL before the Bankruptcy Circuit in the Commercial Court;

  4. Advising and carrying out the needed legal procedures and requirements to commence and complete the financial restructuring procedures as per the SBL before the Bankruptcy Circuit in the Commercial Court. 

Completed and ongoing projects

Our firm has managed numerous high-profile projects and provided expert legal counsel to prestigious and reputable clients in the areas of bankruptcy and financial restructuring under the SBL. Their experience includes, but is not limited to, the following:

  1. MAK advised a reputable Saudi furniture company on initiating the Financial Restructuring Procedure under the SBL.

  2. MAK advised and represented a prominent Saudi company before the Bankruptcy Circuit of the Commercial Court in Jeddah in relation to a financial restructuring lawsuit for a Saudi mixed-capital company. The total debt involved in the case was estimated at SAR 420 million (USD 112 million).

  3. MAK advised a Saudi training company regarding the Administrative Liquidation Procedure under the SBL.

  4. MAK advised and represented a reputable UAE company, handling all necessary legal procedures and requirements to initiate the Liquidation Procedure of a mixed-capital company, with the UAE as a partner, under the SBL before the Bankruptcy Circuit in the Commercial Court of the Western Province.

  5. MAK continues to advise and represent a reputable UAE-based company in the restaurant and franchise business, handling all necessary legal procedures and requirements to initiate the Liquidation Procedure of a mixed-capital company, in which the UAE is a partner, under the SBL before the Bankruptcy Circuit in the Commercial Court of Jeddah. The estimated value of the debts involved in the lawsuit is 150 million SAR (40 million USD).

  6. MAK advised a Saudi fashion company on the Liquidation Procedure under the SBL. The estimated value of the company’s debts is 117 million SAR (31.1 million USD).

MAK is a Saudi full-service law firm that has been providing bilingual multi-jurisdictional, quality and dependable legal services in KSA since 2004

Contact Info

Tell : +966 (0)12 6503-400/494
Fax: +966 (0)12 6503-191

mak@maklawfirm.net

Address

Al-Sultan Center
3rd floor
office # 304 Madinah Rd, Jeddah, Kingdom of Saudi Arabia

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