إعادة التنظيم المالي كوسيلة من وسائل تجنب إفلاس المشروعات في النظام السعودي الجديد

Abstract

“The Saudi Organizer created financial re-organization mechanism, so that the companies can avoid declaring bankruptcy, as avoiding declaring bankruptcy among commercial projects has become a new philosophy that has changed the traditional jurisprudence look upon bankruptcy, so the Saudi organizer adopted this mechanism in his new system passed by the royal decree number (M/50), and he defined it, and organized its rules which arises from being a procedure that aims at helping the debtor to reach an agreement with his creditors, in order to reorganize his financial activity under the supervision of financial re-organization secretary, and be added to the conciliation that prevents bankruptcy as a means to avoid declaration of bankruptcy. Objectives of the Research The research has several objectives, including: 1. A clarify of the position of the Saudi regulator on the means of financial reorganization as a means of avoiding the bankruptcy of projects 2. Monitoring the role of the financial reorganization mechanism in limiting the declaration of bankruptcy 3. The foundations upon which the philosophy of the Saudi commercial regulator is based in reducing the bankruptcy of projects by reporting the mechanism of financial reorganization for projects Research Methodology: As the subject of the research is to clarify the provisions for the financial reorganization of the troubled projects. Therefore, we have to adopt the analytical approach, where the researcher reviews and explains the texts related to financial reorganization, in preparation for comparing them with comparative laws such as the French and the Egyptian, and therefore we adopt the comparative approach after the analytical, and the result of this is that the research method is the comparative analytical approach. Main results: 1. The Saudi regulator introduced the financial reorganization mechanism as a means of assisting troubled companies, working in conjunction with the bankruptcy protective settlement. 2. Financial reorganization is a procedure aiming at facilitating the debtor's reaching an agreement with creditors to reorganize his financial activity. 3. There is a great deal of agreement in the procedural and substantive aspects, both the financial reorganization procedure and the bankruptcy protective settlement procedure.