UNCITRAL Cross-Border Insolvency Framework Workshop In Riyadh Enhances Judicial Understanding

The Knowledge Hub has launched a three-day workshop in Riyadh titled "UNCITRAL Cross-Border Insolvency Framework," held under a partnership between the Kingdom of Saudi Arabia, represented by the National Competitiveness Center, and the World Bank Group, with support from UNCITRAL.

The event seeks to deepen judicial understanding of the UNCITRAL Model Law on Cross-Border Insolvency, improve its practical court application, and reinforce Saudi Arabia’s investment climate. It also supports wider regional alignment on insolvency practices and cross-border coordination among participating states.

The cross-border insolvency workshop gathers 30 judges from the Kingdom of Saudi Arabia, the Kingdom of Bahrain, Kuwait, Qatar, Oman, and the Kingdom of Morocco. The Knowledge Hub hosts the programme, which encourages exchange of legal practices and shared judicial insights.

Sessions during the cross-border insolvency workshop cover the main features of the UNCITRAL Model Law and how courts may apply it. Participants also examine wider UNCITRAL instruments linked to cross-border insolvency, providing a broader look at global standards and legislative options.

Discussions in the cross-border insolvency workshop address core concepts, including the structure of cross-border insolvency regimes and relevant judicial provisions. Attention is given to how courts handle recognition of foreign proceedings and coordinate between multiple jurisdictions in insolvency cases.

The cross-border insolvency workshop also focuses on mechanisms that allow foreign representatives and creditors direct access to courts, creditor protection tools, and the World Bank Group’s Insolvency and Debt Resolution Program, alongside examination of selected judicial case examples and their outcomes.

Knowledge Hub role in cross-border insolvency cooperation

The Knowledge Hub was created as a partnership initiative between the Kingdom of Saudi Arabia, represented by the National Competitiveness Center, and the World Bank Group. The Hub supports dissemination of economic reform experiences and strengthens technical cooperation, including on cross-border insolvency matters.

The World Bank Group recognised Saudi Arabia as a global reference point for knowledge and for spreading economic reform culture. This followed the Kingdom’s extensive economic reforms, which now present a model other countries may study when working to improve competitiveness and address cross-border insolvency challenges.

With inputs from SPA