Abstract
The following paper provides a qualitative comparative analysis of the regulatory processes involved in corporate bankruptcy in the Kingdom of Saudi Arabia (KSA) and the United States of America (USA). The work analyses the legislation, main subjects, procedures, and results of corporate insolvency in both countries. As such, this study seeks to analyze the differences and comparisons of these regulations to address the question of the efficiency of each regime and the gaps for changes. The features of recent changes in Saudi Arabian legislation in the sphere of bankruptcy and the influence of these changes on the business environment are discussed, as well as the obligatory American Chapter 11 procedures. The comparative approach provides policy-implementing, legal-advice, and business-useful outlooks to the policymakers, lawyers, and enterprises operating in both countries for subsequent reasons. Based on the research findings and the shift in the Bankruptcy system in Saudi Arabia, this paper also acknowledges insider influence, particularly the influence of the U.S. model as the world’s benchmark on corporate restructuring best practices.
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