Bankruptcy law aims for balance, not favoring debtors, says legal expert

Abdullah Al-Dosari, a lawyer specializing in commercial remedies, stated that the bankruptcy law does not aim to protect debtors at the expense of creditors.

Speaking in a radio interview with Al-Ikhbariya, Al-Dosari explained that the bankruptcy law seeks to achieve balance between both parties, as stipulated in Article 5 of the law.

He added that the law focuses on enabling the debtor to reorganize and resume business activities whenever possible, while also ensuring fair treatment, maximizing asset value, and guaranteeing the equitable distribution of proceeds from asset liquidation.

Al-Dosari noted that the government has established a dedicated authority to enhance the implementation of bankruptcy procedures by building the capacity of professionals in the field. A committee was formed for this purpose by a Cabinet decision; it is an independent legal entity with financial and administrative autonomy, operating under the supervision of the Minister of Commerce and carrying out the responsibilities outlined in the bankruptcy law and its regulations.

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