Best Bankruptcy Lawyers in Riyadh

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Sahal Law Firm

Sahal Law Firm

15 minutes Free Consultation
Riyadh, Saudi Arabia

Founded in 2015
53 people in their team
English
Arabic
Sahal Law Firm - Riyadh, Saudi ArabiaSahal Law Firm is a premier Saudi law firm in Riyadh providing bilingual (Arabic / English) counsel to local and international clients. we deliver end-to-end solutions in mergers & acquisitions (M&A), SAMA fintech licensing, corporate and commercial law,...
AlGhazzawi & Partners

AlGhazzawi & Partners

30 minutes Free Consultation
Riyadh, Saudi Arabia

Founded in 1969
40 people in their team
Arabic
English
Since 1969, AlGhazzawi & Partners has consistently been at the forefront of corporate and business law developments in Saudi Arabia and the Region. As a full-service Saudi business and corporate law firm, we have advised on landmark projects and helped shape new laws while advancing the legal...
The Edge Law Firm
Riyadh, Saudi Arabia

Founded in 2016
5 people in their team
Arabic
French
English
The Edge is an unconventional law firm drawing on new technologies to change the way in which legal services are provided, resulting in cost effectiveness for clients. The Edge is specialized in providing legal subcontracting services to both law firms and legal departments of companies of all...
AJALEEN LAW FIRM & IP

AJALEEN LAW FIRM & IP

15 minutes Free Consultation
Riyadh, Saudi Arabia

Founded in 2007
15 people in their team
Arabic
English
In the year 2007, Mr. Abdullah Al-Ajaleen launched Al-Ajaleen & Company with the help of a group of seasoned Law and intellectual property practitioners who have extensive expertise in the Gulf region. The workforce at Ajaleen is dedicated to upholding the highest ethical and professional...
Khalid Alnowaiser Law Firm & Partners

Khalid Alnowaiser Law Firm & Partners

15 minutes Free Consultation
Riyadh, Saudi Arabia

Founded in 1994
10 people in their team
Arabic
English
Khalid Alnowaiser Law Firm & Partners: Pioneering Legal Excellence in Saudi ArabiaEstablished in 1996 by Dr. Khalid Alnowaiser, our firm has rapidly evolved into a vanguard of legal innovation in Riyadh and Jeddah. At Khalid Alnowaiser Law Firm & Partners, we don't just practice law; we...
Abdullah A. Alfallaj Law Firm
Riyadh, Saudi Arabia

Founded in 1990
50 people in their team
Arabic
English
Abdullah A. AlFallaj Law Firm Al Fallaj Law Firm is one of the pioneers and leading law firms based in Riyadh, Saudi Arabia.  Our legal firm consists of highly trained and experienced lawyers and paralegals providing full legal consultancy to business and investment projects. We have...
Alkani Lawyers & Consultants
Riyadh, Saudi Arabia

Founded in 2000
50 people in their team
Arabic
English
 Lawyer/ Saad Mabrouk Kani Al-MutairiFounder and CEOHe holds a master's degree from the Higher Institute of Judiciary.He holds a BA in Sharia from Al-Imam University.- Certified commercial arbitrator at the Gulf Arbitration Center.Certified expert in the General Court. - Certified trainer...
Nassr Albarakati law firm
Riyadh, Saudi Arabia

Founded in 1954
25 people in their team
Arabic
Our firm was established as an extension of a legal legacy that spans over sixty years (since 1954 A.D.), with a proven track record in drafting high-quality documents and adhering to best practices. This wealth of experience forms the cornerstone of our message and vision, which blends legal...
Al Othman Lawyers & Consultant Co
Riyadh, Saudi Arabia

Founded in 2016
81 people in their team
Arabic
English
Al Othman Lawyers and ConsultantsIs a leading company in the legal field in Saudi Arabia and the Middle East, founded in 2016 and headquartered in the Kingdom of Saudi Arabia. The company specializes in providing a wide range of legal services, including consulting, pleading and litigation,...
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About Bankruptcy Law in Riyadh, Saudi Arabia:

In Saudi Arabia, including its capital city Riyadh, bankruptcy law governs the procedures and legal grounds for entities or individuals who cannot pay their debts to creditors. Bankruptcy law in the country has been undergoing modernization in recent years, with a new law implemented in 2018. This law provides a comprehensive legal framework consistent with international practices, offering a solution for bankrupt parties while helping to mitigate losses for creditors.

Why You May Need a Lawyer:

Bankruptcy law can be complex and navigating it alone might be confusing. You may require a lawyer if you're unable to fulfill your financial obligations, are facing pressure from creditors or need to understand your rights and options when facing insolvency. Additionally, a lawyer can guide you on how to report bankruptcy, the necessary steps you need to take, the paperwork you need to compile, and help protect your assets as much as possible.

Local Laws Overview:

In Riyadh, Saudi Arabia, the bankruptcy law contains several key elements. Firstly, the law offers protection to both creditors and debtors from fraudulent actions. For debtors, there are provision for financial restructuring, settlement, and trustee in bankruptcy procedures. The law also allows debtors to get a second chance and avoid bankruptcy declarations through protections and financial restructuring. If a debtor has irreparable financial difficulties, liquidation can be invoked.

Frequently Asked Questions:

1. Can an individual declare bankruptcy in Riyadh?

Yes, as per the recent law, both entities and individuals can declare bankruptcy.

2. How does financial restructuring work?

Financial restructuring allows the debtor to restructure their financial debts under a plan which is agreed upon by both parties (the debtor and the creditor).

3. Can bankruptcy in Riyadh result in imprisonment?

With the aim of modernizing bankruptcy approaches, the new law in Saudi Arabia moves away from punitive measures like imprisonment, focusing instead on economic recovery for businesses and individuals.

4. Is bankruptcy law in Riyadh the same as in other parts of Saudi Arabia?

Yes, the bankruptcy law is standardized across the Kingdom of Saudi Arabia and applies to Riyadh as well.

5. What steps should one take when facing bankruptcy?

First and foremost, consult with a legal expert. Time is crucial when dealing with bankruptcy and you need to understand your options. A lawyer can give you a comprehensive understanding of your situation and advise on the best path forward.

Additional Resources:

The Ministry of Commerce in Saudi Arabia and its related bodies provide useful resources, updates and information regarding the bankruptcy laws and procedures in the country. The Saudi Arabian General Investment Authority (SAGIA) is another good resource. Libraries and universities might also have literature and research on the topic.

Next Steps:

If you or your business is facing a financial crisis, it's advisable to seek legal help as soon as possible. Engage a legal expert who specializes in bankruptcy to help navigate through the process, protect your rights and interests, and to ensure you are in compliance with all the regulations.

Lawzana helps you find the best lawyers and law firms in Riyadh through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Bankruptcy, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Riyadh, Saudi Arabia - quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.