PROTECTING THE DEBTOR FROM IMPRISONMENT UNDER THE SAUDI BANKRUPTCY LAW (AN ANALYTICAL STUDY)

Salih Mohammad M alhumami,  Ghaleb Mubarak S Alhamami,  Mohammed Ali M. Alasmari,  Ahmed Ahmed S Al-Tuwaili,

doi:10.18848/dj9zbr08

Authors

Salih Mohammad M alhumami, Ghaleb Mubarak S Alhamami, Mohammed Ali M. Alasmari, Ahmed Ahmed S Al-Tuwaili, Author

DOI:

https://doi.org/10.18848/dj9zbr08

Abstract

Undoubtedly, protecting the insolvent debtor is of considerable importance to economic life, insofar as it helps prevent commercial enterprises from collapsing. To this end, legislation has been enacted to allow the preparation of rescue plans as soon as early signs of economic difficulty appear.

The Saudi Bankruptcy Law prescribes the procedures to be followed for both creditor and debtor, and it establishes practical mechanisms that clearly safeguard the debtor’s rights, attaching multiple legal effects that attest to the seriousness of this protection-including shielding the debtor from imprisonment for debt. This paper sheds light on that mechanism.