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The Middle East Regional Bankruptcy Reform Initiative

Arabruleoflaw Acrli
Arabruleoflaw Acrli

The "Middle East Regional Bankruptcy Reform Initiative" is a project that is being implemented by the Arab Center for the Development of the Rule of Law and Integriy (ACRLI) with the support of the Middle East Partnership initiative (MEPI). This project aims at promoting and raising confidence in business and commerce in Egypt and Jordan, through establishing and activating the concepts of the rule of law in the trade and business sectors. The strategic objectives of the project are twofold; the first is to formulate well-researched reform plans and recommendations for reforming bankruptcy laws in both Egypt and Jordan. The second strategic objective is the creation of effective advocacy campaigns for bankruptcy law reform, which will activate the participation of multiple stakeholders in their respective countries. The advocacy campaigns will target only stakeholders with an interest in bankruptcy law reform and hopefully the means to effectively pressure policy-makers to enact reforms.

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The Middle East Regional Bankruptcy Reform Initiative
惺悋 惠忰惆惓 惴悋 悋悒悋愕 惆惺 悋悋愕惠惓悋惘 悋 悋悋惠惶悋惆... 忰悸 惺悋悸 惡悋惆惘悸 悋愆惘 束 惡惠悵 愆惘惺 悒 惠忰惠 惺悋 損 悋惘慍 悋惺惘惡 惠愀惘 忰 悋悋 悋慍悋悸 束 悴惘悸 惶惘 悋惺惘惡悸 悋悸 悋悖惘惆悸 悋悋愆悸 悵 損 悋悖愕愀 悒惶悋忰 惴悋 悋悒悋愕 .)MEPI( 惡惆惺 惡悋惆惘悸 悋愆惘悋悸 悋悖惘悸 悋愆惘 悖愕愀悸 愆惘悋悄 悋惘慍 )Eurasia( 悵 悋惘慍 悋惺惘惡 悵悋 悋愆惘惺 惡悋惠惺悋 惺 悗愕愕悸 悖惘悋愕悋 惶惘 )悴惺悸 悋 悋愕惠愆悋惘悋惠 悋悋悸( 悋悖惘惆 )惠惡 惡惘 & 惺惆悸( 惡愕悋惺惆悸 愆惡悸 愀悸 悋惆惠 悸 悖惶忰悋惡 悋惶忰悸 悋惘悋惘 悋惺 惡惷惺 悋悒悋愕. 惆 悋愆惘惺 惆 悋愆惘惺 悒 惠忰惆惓 悋惠愆惘惺 悋惠悴悋惘 惡悋惡 悋悒悋愕 悖悴 惠惺慍慍 悋惓悸 悴悋 悋悖惺悋 悋惠悴悋惘悸 悴惘悸 惶惘 悋惺惘惡悸 悋悸 悋悖惘惆悸 悋悋愆悸 悵 悽悋 悒惘愕悋悄 惠惺 悋 忰 悋悋 悋悒惆悋惘悸 悋惘愆惆悸 愀悋惺悋惠 悋惠悴悋惘悸 悋悖惺悋. 愆惘惺 悒惶悋忰 惡 惺 愆悋惘悸 悖惶忰悋惡 悋惶忰悸 惘惠慍 悋愆惘惺 惺 愆悋惘悸 悖惶忰悋惡 悋惶忰悸 惠忰惆惓 惴悋 悋悒悋愕 悵 惺惡惘 惺惆 悋悄悋惠 惘惆悸 悴愕悋惠 惺惶 惘 惘愆 惺 愀悸 悒悸 惠悵 悋愕惠愀悋惺 惘悖 悋惆惠. 悖愆悖 悋愆惘惺 惺悋 悒惠惘悋 惠悽惶惶悋 惠惶忰 惡悋愃惠 悋惺惘惡悸 悋悋悴慍悸 惡惆 惠愕 忰惶 悋悋 惘悴悋 悋悖惺悋 惺 悋惺悋惠 悋悋悸 悋惠悴悋惘悸 悋惠惺悸 惡惷惺 悋悒悋愕 . 悵悋 悋惺 悋悋惠惘 惠 惠悴惺 惠惓 悖惡惘慍 悋惠愆惘惺悋惠 悋惶惶 悋悋悸 悋惠悴悋惘悸 悋悖忰悋 悋惷悋悧悸 悋惠惺悸 惡悋悒悋愕 惶惘 悋悖惘惆 惡悋悒惷悋悸 悒 悖 悋惘悋悴惺 悋愀悸 悋悒悸 悋惆悸 悋惠惺悸 惡惷惺 悋悒悋愕 惆惘悋愕悋惠 惠悋惘惘 悋悋惠. 愆 悵悋 悋惺 惶悸 惠悋惺悸 惠愕忰 悖惶忰悋惡 悋惶忰悸 悋惺 惡惷惺 悋悒悋愕 惡悋惠悋惶 悖悴 惠惡悋惆 悋惺惘悸 惡 悋惴惘悋悄. www.arabruleoflaw.org/bankruptcyreform/ : 慍悋惘悸 悵悋 悋惺 惺惡惘 悋惘悋惡愀 悋惠悋 Access to bankruptcy legal information is now available to the legal and business communities in the Middle East and North Africa Region through the web-based compendium that was developed within the context of the project. The compendium is available in Arabic and English. It provides an interactive platform where many forums can be created as well as where chats options are available for stakeholders and concerned sectors.. It assembles information related to bankruptcy and commercial laws, regulations, jurisprudence, and other legal resources from Egypt and Jordan, in addition to bankruptcy and commercial law resources from various Arab countries in the region and worldwide. It also includes resources on bankruptcy namely international standards and best practices in the field and various outputs from the project Together towards Modernizing Bankruptcy Law to Support Investment and Economic Growth General Overview The Arab Center for the Development of the Rule of Law and Integrity (ACRLI) is implementing a regional project entitled: The Middle East Bankruptcy Law Reform Initiative in each of Egypt and Jordan with the support of the U.S.- Middle East Partnership Initiative (MEPI). ACRLI is performing this project in cooperation with its partners; Eurasia foundation, the Nile Advisory Group from Egypt and Bakr & Odeh Advocates & Legal Consultants from Jordan with the collaboration of national networks of concerned stakeholders and decision makers from both countries. Objective of the project This project aims at modernizing the Bankruptcy Law in order to raise confidence in business in Egypt and Jordan, through establishing rule of law and good governance principles in business sectors. Reform Project Based on Stakeholder Participation The project is based on stakeholders participation for the modernization of Bankruptcy Law through key individual interviews, focus groups, national and regional workshops, and the implementation of a survey in each of the two countries.
悴惘悸 惶惘 悋惺惘惡悸 惡惺惷 悋忰悋悧 悒 悖忰悋 悋悒悋愕 悋悋惘惆悸 悋 悋惠悴悋惘悸 悋惶惘 愀惘悖 惺悋 悖 惠忰惆惓 悖 惠惺惆 悵 悋惺悋 .1999 惠忰惠 悴惘悸 惶惘 悋惺惘惡悸 惠惶 悋惡 悋惆 悋惠惘惠惡 ) 146 ( 惡 ) 189 ( 惆悸 悋 惠惺 惡悋悄悸 惴悋 惠愕悸 忰悋悋惠 悋悒悋愕. 悒 愕惡悸 悋愕惠惘惆悋惆 悋惆悋悧 惆 悋惠愕悸 惶惘 悋 惠惠悴悋慍 16,9 % 悋惘悸 惡 90 % 惆悋. 悒 悒悴惘悋悄悋惠 悒悋悄 悋惠愕悸 惶惘 惠愕惠愃惘 忰悋 5 愕悋惠 悋惘悸 惡 6 悋愆惘 愕愃悋惘悸. 惡惺惷 悋悋惠惘悋忰悋惠 惠忰惆惓 惴悋 悋悒悋愕 悒惺悋惆悸 惠惴 悋愆悋惘惺 悋惠悴悋惘悸 悋惠惺惓惘悸 悋悴 悋忰悋惴悸 惺 惡悋悧悋 悋愕 惴惘悋 悋 悵 悋悧惆悸 惠忰愕 惡悧悸 悋悽 悋悖惺悋. 惠忰惆惓 惠愀惘 悗愕愕悸 悋悒悋愕 惡悋惠悋 悋悽愕悸 )忰悸 悋悋悋愕 悋惷 悋惠愕悸 悖 悋惠愕悸 惘悋惡 悋惠愕悸 悴悋惺悸 悋惆悋悧( 惠悖惓惘悋 悋惡悋愆惘 惺 悋悋愕惠惘悋惘 悋 悋悋惠惶悋惆. 悒愆悋悄 悴悸 悒惆悋惘悸 悖 愆惘悸 惠悽惶惶悸 惠 惠悋 惠惘 悋惺悋惠 悋悋悧惠悋悸 惺 悋惠悴悋惘 悋愆惘悋惠 悋惠悴悋惘悸 悋惺悋悸. 惠惡愕愀 悋悽惠惶悋惘 悒悴惘悋悄悋惠 悋惶忰 悋悋 悋悋悋愕 惺 惷惘惘悸 悒惺惆悋惆 惡惘悋悴 惠惺悸 惠悴悋惘 惆惘 悋愆惘悋惠 惷悽 惓悋悸 悋悽惘悴 悋悋愕惠惓悋惘 悋惠 悋悋愕惡. 惠惆惘愕 惓悋悸 悋悽惘悴 悋悋愕惠惓悋惘 悋惠 悋悋愕惡 悋惠 悋忰 悋惠悴悋惘悸 悋悋惠惶悋惆 悋悴悋惺悋惠 悋惶惘悸.
The Arab Republic of Egypt Some Facts The bankruptcy legislations which are included in the Egyptian trade law havent been amended since 1999. The Arab Republic of Egypt is ranked 146th among 189 countries, according to the Doing Business 2014 - World Bank classification, in terms of Resolving Insolvency In Egypt, the percentage of debt recovery doesnt exceed 16.9 % while in Finland it reaches 90%. In Egypt, the average time to close a business is 5 years while in Singapore it is 6 months. Key Recommendations towards the Modernization of the Bankruptcy System Corporate Restructuring, in order to sustain the companys presence in the market due to its advantage in ameliorating the business environment. Modernizing and developing the five components of the bankruptcy system (bankruptcy court; bankruptcy judge; bankruptcy trustee; bankruptcy inspector and creditors) for its influence on the stability and economic growth. Establishing an administrative entity or specialized company with the mission to provide credit information on businessmen and commercial companies. Simplifying and shortening the bankruptcy conciliatory procedures with the necessity of preparing awareness programs for the traders and corporate managers in order to disseminate the knowledge of halting investments. Educating about halting investments in the faculties of law, business and economics at the Egyptian universities.
悋悸 悋悖惘惆悸 悋悋愆悸 惡惺惷 悋忰悋悧 悒 悖忰悋 悋悒悋愕 悋悋惘惆悸 悋 悋惠悴悋惘悸 悋悖惘惆 愀惘悖 惺悋 悖 惠忰惆惓 悖 惠惺惆 悵 悋惺悋 1966 惺 悋惺 悖 悋 愆惘惺 悋 悒惺悋惆悸 惠惴 悖惺悋 悋惠悋悴惘 悖忰悋 悋悒悋愕 悋惠惶悸 . 惺惘惷 惺 悴愕 悋悖悸 悋悖惘惆 悵 悋惺悋 2012 惠忰惠 悋悸 悋悖惘惆悸 悋悋愆悸 惠惶 悋惡 悋惆 悋惠惘惠惡 ) 113 ( 惡 ) 189 ( 惆悸 悋 惠惺 惡悋悄悸 惴悋 惠愕悸 忰悋悋惠 悋悒惺愕悋惘. 悒 愕惡悸 悋愕惠惘惆悋惆 悋惆悋悧 惆 悋惠愕悸 悋悖惘惆 悋 惠惠悴悋慍 27 % 悋惘悸 惡 90 % 惆悋. 悒 悋惴惘 惆惺悋 悋悒悋愕 悋惠惶悸 悖悋 悋忰悋 悋悖惘惆 愕惠愃惘 忰悋 ) 3( 愕悋惠 惺 悋悖 悋惘悸 惡 ) 6( 悖愆惘 愕愃悋惘悸. 悒 悋愆惘悸 悖 悋悗愕愕悸 悋惠悴悋惘悸 悋惠 惠惆悽 悒悴惘悋悄悋惠 悒悋愕 悖 惠惶悸 悋悖惘惆 惠悽愕惘 惺 悋悖 %20 ( 惠悋 悖惓悋悄 惠 悋悒悴惘悋悄悋惠. ( 惡惺惷 悋悋惠惘悋忰悋惠 惠忰惆惓 惴悋 悋悒悋愕 惠惡 悛悸 悒惺悋惆悸 惠惴 悋悗愕愕悋惠 悋愆惘悋惠 悋惠悴悋惘悸 悋惠惺惓惘悸 悒悵悋 悋惠 悋惡悸 悋愕惠惘悋惘 悖悴 悒惺愀悋悧悋 惘惶悸 惠悴悋慍 惠惺惓惘悋 悋忰悋惴悸 惺 惡悋悧悋 悋愕 悋 悵 悋悧惆悸 惠忰愕 惡悧悸 悋悖惺悋 悋惠悴悋惘悸 . 悒惠悋忰悸 惘惶悸 悋惠愕悸 悋惷悋悧悸 惆 悋悗愕愕悋惠 悋愆惘悋惠 悋惠惺惓惘悸 惷 悒愀悋惘 悋 忰悋惴 惺 忰 悋惆悋悧 悋惘惠 惷 悋惠悖惆 惶忰悸 愕悋悸 悋惆. 惠惡愕愀 惠愀惘 悒悴惘悋悄悋惠 悋惠悋惷 惠忰惆惆 惶悋忰悋惠 悽惠 悋悖愀惘悋 惡惆悸 惷悋 愕惘惺悸 悋惡惠 惆惺悋 悋悒悋愕 悋惠惶悸 悋忰悋惴悸 惺 悸 悴惆悋惠 悋惆 惠忰 悖惺 愕惡悸 悋愕惠惘惆悋惆 忰 悋惆悋悧 悖惶惘 惠惘悸 悸. 悒愆悋悄 忰悸 惴悋悸 惠悽惶惶悸 惴惘 愀惡悋惠 悒惺悋惆悸 悋惠惴 愀惡悋惠 悋惠愕悸 悋惷悋悧悸 惆惺悋 悋悒悋愕 悋惠惶悸.
Hashemite Kingdom of Jordan Some Facts The bankruptcy legislations which are included in the Jordanian trade law havent been amended since 1966. Knowing that a draft law on restructuring, bankruptcy and liquidation has been proposed to the Jordanian parliament since 2012. The Hashemite Kingdom of Jordan is ranked 113th among 189 countries, according to the Doing Business 2014 - World Bank classification, in terms of Resolving Insolvency. In Jordan, the percentage of debt recovery doesnt exceed 27 % while in Finland it reaches 90%. In Jordan, a lawsuit filed for bankruptcy and liquidation takes minimum 3 years comparing to Singapore where it takes only 6 months. The company or enterprise that undergoes bankruptcy or liquidation procedures in Jordan loses at least 20% of the value of its assets during these procedures. Key Recommendations towards the Modernization of the Bankruptcy and Liquidation System Adopting a corporate restructuring mechanism, in order to give the companies the opportunity to stay in the market and to improve the business environment. Providing the opportunity of judicial settlement for the companies within a legal framework that preserves the rights of the creditors and ensures debts. Simplifying and developing the litigation procedures; and defining the rights of all different parties in order to guarantee a prompt disposition of bankruptcy and liquidation cases as well as maintaining the creditors asset value and attain the highest percentage of credits recovery in a short period of time. Establishing bankruptcy courts .

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The Middle East Regional Bankruptcy Reform Initiative

  • 2. 惺悋 惠忰惆惓 惴悋 悋悒悋愕 惆惺 悋悋愕惠惓悋惘 悋 悋悋惠惶悋惆... 忰悸 惺悋悸 惡悋惆惘悸 悋愆惘 束 惡惠悵 愆惘惺 悒 惠忰惠 惺悋 損 悋惘慍 悋惺惘惡 惠愀惘 忰 悋悋 悋慍悋悸 束 悴惘悸 惶惘 悋惺惘惡悸 悋悸 悋悖惘惆悸 悋悋愆悸 悵 損 悋悖愕愀 悒惶悋忰 惴悋 悋悒悋愕 .)MEPI( 惡惆惺 惡悋惆惘悸 悋愆惘悋悸 悋悖惘悸 悋愆惘 悖愕愀悸 愆惘悋悄 悋惘慍 )Eurasia( 悵 悋惘慍 悋惺惘惡 悵悋 悋愆惘惺 惡悋惠惺悋 惺 悗愕愕悸 悖惘悋愕悋 惶惘 )悴惺悸 悋 悋愕惠愆悋惘悋惠 悋悋悸( 悋悖惘惆 )惠惡 惡惘 & 惺惆悸( 惡愕悋惺惆悸 愆惡悸 愀悸 悋惆惠 悸 悖惶忰悋惡 悋惶忰悸 悋惘悋惘 悋惺 惡惷惺 悋悒悋愕. 惆 悋愆惘惺 惆 悋愆惘惺 悒 惠忰惆惓 悋惠愆惘惺 悋惠悴悋惘 惡悋惡 悋悒悋愕 悖悴 惠惺慍慍 悋惓悸 悴悋 悋悖惺悋 悋惠悴悋惘悸 悴惘悸 惶惘 悋惺惘惡悸 悋悸 悋悖惘惆悸 悋悋愆悸 悵 悽悋 悒惘愕悋悄 惠惺 悋 忰 悋悋 悋悒惆悋惘悸 悋惘愆惆悸 愀悋惺悋惠 悋惠悴悋惘悸 悋悖惺悋. 愆惘惺 悒惶悋忰 惡 惺 愆悋惘悸 悖惶忰悋惡 悋惶忰悸 惘惠慍 悋愆惘惺 惺 愆悋惘悸 悖惶忰悋惡 悋惶忰悸 惠忰惆惓 惴悋 悋悒悋愕 悵 惺惡惘 惺惆 悋悄悋惠 惘惆悸 悴愕悋惠 惺惶 惘 惘愆 惺 愀悸 悒悸 惠悵 悋愕惠愀悋惺 惘悖 悋惆惠. 悖愆悖 悋愆惘惺 惺悋 悒惠惘悋 惠悽惶惶悋 惠惶忰 惡悋愃惠 悋惺惘惡悸 悋悋悴慍悸 惡惆 惠愕 忰惶 悋悋 惘悴悋 悋悖惺悋 惺 悋惺悋惠 悋悋悸 悋惠悴悋惘悸 悋惠惺悸 惡惷惺 悋悒悋愕 . 悵悋 悋惺 悋悋惠惘 惠 惠悴惺 惠惓 悖惡惘慍 悋惠愆惘惺悋惠 悋惶惶 悋悋悸 悋惠悴悋惘悸 悋悖忰悋 悋惷悋悧悸 悋惠惺悸 惡悋悒悋愕 惶惘 悋悖惘惆 惡悋悒惷悋悸 悒 悖 悋惘悋悴惺 悋愀悸 悋悒悸 悋惆悸 悋惠惺悸 惡惷惺 悋悒悋愕 惆惘悋愕悋惠 惠悋惘惘 悋悋惠. 愆 悵悋 悋惺 惶悸 惠悋惺悸 惠愕忰 悖惶忰悋惡 悋惶忰悸 悋惺 惡惷惺 悋悒悋愕 惡悋惠悋惶 悖悴 惠惡悋惆 悋惺惘悸 惡 悋惴惘悋悄. www.arabruleoflaw.org/bankruptcyreform/ : 慍悋惘悸 悵悋 悋惺 惺惡惘 悋惘悋惡愀 悋惠悋 Access to bankruptcy legal information is now available to the legal and business communities in the Middle East and North Africa Region through the web-based compendium that was developed within the context of the project. The compendium is available in Arabic and English. It provides an interactive platform where many forums can be created as well as where chats options are available for stakeholders and concerned sectors.. It assembles information related to bankruptcy and commercial laws, regulations, jurisprudence, and other legal resources from Egypt and Jordan, in addition to bankruptcy and commercial law resources from various Arab countries in the region and worldwide. It also includes resources on bankruptcy namely international standards and best practices in the field and various outputs from the project Together towards Modernizing Bankruptcy Law to Support Investment and Economic Growth General Overview The Arab Center for the Development of the Rule of Law and Integrity (ACRLI) is implementing a regional project entitled: The Middle East Bankruptcy Law Reform Initiative in each of Egypt and Jordan with the support of the U.S.- Middle East Partnership Initiative (MEPI). ACRLI is performing this project in cooperation with its partners; Eurasia foundation, the Nile Advisory Group from Egypt and Bakr & Odeh Advocates & Legal Consultants from Jordan with the collaboration of national networks of concerned stakeholders and decision makers from both countries. Objective of the project This project aims at modernizing the Bankruptcy Law in order to raise confidence in business in Egypt and Jordan, through establishing rule of law and good governance principles in business sectors. Reform Project Based on Stakeholder Participation The project is based on stakeholders participation for the modernization of Bankruptcy Law through key individual interviews, focus groups, national and regional workshops, and the implementation of a survey in each of the two countries.
  • 3. 悴惘悸 惶惘 悋惺惘惡悸 惡惺惷 悋忰悋悧 悒 悖忰悋 悋悒悋愕 悋悋惘惆悸 悋 悋惠悴悋惘悸 悋惶惘 愀惘悖 惺悋 悖 惠忰惆惓 悖 惠惺惆 悵 悋惺悋 .1999 惠忰惠 悴惘悸 惶惘 悋惺惘惡悸 惠惶 悋惡 悋惆 悋惠惘惠惡 ) 146 ( 惡 ) 189 ( 惆悸 悋 惠惺 惡悋悄悸 惴悋 惠愕悸 忰悋悋惠 悋悒悋愕. 悒 愕惡悸 悋愕惠惘惆悋惆 悋惆悋悧 惆 悋惠愕悸 惶惘 悋 惠惠悴悋慍 16,9 % 悋惘悸 惡 90 % 惆悋. 悒 悒悴惘悋悄悋惠 悒悋悄 悋惠愕悸 惶惘 惠愕惠愃惘 忰悋 5 愕悋惠 悋惘悸 惡 6 悋愆惘 愕愃悋惘悸. 惡惺惷 悋悋惠惘悋忰悋惠 惠忰惆惓 惴悋 悋悒悋愕 悒惺悋惆悸 惠惴 悋愆悋惘惺 悋惠悴悋惘悸 悋惠惺惓惘悸 悋悴 悋忰悋惴悸 惺 惡悋悧悋 悋愕 惴惘悋 悋 悵 悋悧惆悸 惠忰愕 惡悧悸 悋悽 悋悖惺悋. 惠忰惆惓 惠愀惘 悗愕愕悸 悋悒悋愕 惡悋惠悋 悋悽愕悸 )忰悸 悋悋悋愕 悋惷 悋惠愕悸 悖 悋惠愕悸 惘悋惡 悋惠愕悸 悴悋惺悸 悋惆悋悧( 惠悖惓惘悋 悋惡悋愆惘 惺 悋悋愕惠惘悋惘 悋 悋悋惠惶悋惆. 悒愆悋悄 悴悸 悒惆悋惘悸 悖 愆惘悸 惠悽惶惶悸 惠 惠悋 惠惘 悋惺悋惠 悋悋悧惠悋悸 惺 悋惠悴悋惘 悋愆惘悋惠 悋惠悴悋惘悸 悋惺悋悸. 惠惡愕愀 悋悽惠惶悋惘 悒悴惘悋悄悋惠 悋惶忰 悋悋 悋悋悋愕 惺 惷惘惘悸 悒惺惆悋惆 惡惘悋悴 惠惺悸 惠悴悋惘 惆惘 悋愆惘悋惠 惷悽 惓悋悸 悋悽惘悴 悋悋愕惠惓悋惘 悋惠 悋悋愕惡. 惠惆惘愕 惓悋悸 悋悽惘悴 悋悋愕惠惓悋惘 悋惠 悋悋愕惡 悋惠 悋忰 悋惠悴悋惘悸 悋悋惠惶悋惆 悋悴悋惺悋惠 悋惶惘悸.
  • 4. The Arab Republic of Egypt Some Facts The bankruptcy legislations which are included in the Egyptian trade law havent been amended since 1999. The Arab Republic of Egypt is ranked 146th among 189 countries, according to the Doing Business 2014 - World Bank classification, in terms of Resolving Insolvency In Egypt, the percentage of debt recovery doesnt exceed 16.9 % while in Finland it reaches 90%. In Egypt, the average time to close a business is 5 years while in Singapore it is 6 months. Key Recommendations towards the Modernization of the Bankruptcy System Corporate Restructuring, in order to sustain the companys presence in the market due to its advantage in ameliorating the business environment. Modernizing and developing the five components of the bankruptcy system (bankruptcy court; bankruptcy judge; bankruptcy trustee; bankruptcy inspector and creditors) for its influence on the stability and economic growth. Establishing an administrative entity or specialized company with the mission to provide credit information on businessmen and commercial companies. Simplifying and shortening the bankruptcy conciliatory procedures with the necessity of preparing awareness programs for the traders and corporate managers in order to disseminate the knowledge of halting investments. Educating about halting investments in the faculties of law, business and economics at the Egyptian universities.
  • 5. 悋悸 悋悖惘惆悸 悋悋愆悸 惡惺惷 悋忰悋悧 悒 悖忰悋 悋悒悋愕 悋悋惘惆悸 悋 悋惠悴悋惘悸 悋悖惘惆 愀惘悖 惺悋 悖 惠忰惆惓 悖 惠惺惆 悵 悋惺悋 1966 惺 悋惺 悖 悋 愆惘惺 悋 悒惺悋惆悸 惠惴 悖惺悋 悋惠悋悴惘 悖忰悋 悋悒悋愕 悋惠惶悸 . 惺惘惷 惺 悴愕 悋悖悸 悋悖惘惆 悵 悋惺悋 2012 惠忰惠 悋悸 悋悖惘惆悸 悋悋愆悸 惠惶 悋惡 悋惆 悋惠惘惠惡 ) 113 ( 惡 ) 189 ( 惆悸 悋 惠惺 惡悋悄悸 惴悋 惠愕悸 忰悋悋惠 悋悒惺愕悋惘. 悒 愕惡悸 悋愕惠惘惆悋惆 悋惆悋悧 惆 悋惠愕悸 悋悖惘惆 悋 惠惠悴悋慍 27 % 悋惘悸 惡 90 % 惆悋. 悒 悋惴惘 惆惺悋 悋悒悋愕 悋惠惶悸 悖悋 悋忰悋 悋悖惘惆 愕惠愃惘 忰悋 ) 3( 愕悋惠 惺 悋悖 悋惘悸 惡 ) 6( 悖愆惘 愕愃悋惘悸. 悒 悋愆惘悸 悖 悋悗愕愕悸 悋惠悴悋惘悸 悋惠 惠惆悽 悒悴惘悋悄悋惠 悒悋愕 悖 惠惶悸 悋悖惘惆 惠悽愕惘 惺 悋悖 %20 ( 惠悋 悖惓悋悄 惠 悋悒悴惘悋悄悋惠. ( 惡惺惷 悋悋惠惘悋忰悋惠 惠忰惆惓 惴悋 悋悒悋愕 惠惡 悛悸 悒惺悋惆悸 惠惴 悋悗愕愕悋惠 悋愆惘悋惠 悋惠悴悋惘悸 悋惠惺惓惘悸 悒悵悋 悋惠 悋惡悸 悋愕惠惘悋惘 悖悴 悒惺愀悋悧悋 惘惶悸 惠悴悋慍 惠惺惓惘悋 悋忰悋惴悸 惺 惡悋悧悋 悋愕 悋 悵 悋悧惆悸 惠忰愕 惡悧悸 悋悖惺悋 悋惠悴悋惘悸 . 悒惠悋忰悸 惘惶悸 悋惠愕悸 悋惷悋悧悸 惆 悋悗愕愕悋惠 悋愆惘悋惠 悋惠惺惓惘悸 惷 悒愀悋惘 悋 忰悋惴 惺 忰 悋惆悋悧 悋惘惠 惷 悋惠悖惆 惶忰悸 愕悋悸 悋惆. 惠惡愕愀 惠愀惘 悒悴惘悋悄悋惠 悋惠悋惷 惠忰惆惆 惶悋忰悋惠 悽惠 悋悖愀惘悋 惡惆悸 惷悋 愕惘惺悸 悋惡惠 惆惺悋 悋悒悋愕 悋惠惶悸 悋忰悋惴悸 惺 悸 悴惆悋惠 悋惆 惠忰 悖惺 愕惡悸 悋愕惠惘惆悋惆 忰 悋惆悋悧 悖惶惘 惠惘悸 悸. 悒愆悋悄 忰悸 惴悋悸 惠悽惶惶悸 惴惘 愀惡悋惠 悒惺悋惆悸 悋惠惴 愀惡悋惠 悋惠愕悸 悋惷悋悧悸 惆惺悋 悋悒悋愕 悋惠惶悸.
  • 6. Hashemite Kingdom of Jordan Some Facts The bankruptcy legislations which are included in the Jordanian trade law havent been amended since 1966. Knowing that a draft law on restructuring, bankruptcy and liquidation has been proposed to the Jordanian parliament since 2012. The Hashemite Kingdom of Jordan is ranked 113th among 189 countries, according to the Doing Business 2014 - World Bank classification, in terms of Resolving Insolvency. In Jordan, the percentage of debt recovery doesnt exceed 27 % while in Finland it reaches 90%. In Jordan, a lawsuit filed for bankruptcy and liquidation takes minimum 3 years comparing to Singapore where it takes only 6 months. The company or enterprise that undergoes bankruptcy or liquidation procedures in Jordan loses at least 20% of the value of its assets during these procedures. Key Recommendations towards the Modernization of the Bankruptcy and Liquidation System Adopting a corporate restructuring mechanism, in order to give the companies the opportunity to stay in the market and to improve the business environment. Providing the opportunity of judicial settlement for the companies within a legal framework that preserves the rights of the creditors and ensures debts. Simplifying and developing the litigation procedures; and defining the rights of all different parties in order to guarantee a prompt disposition of bankruptcy and liquidation cases as well as maintaining the creditors asset value and attain the highest percentage of credits recovery in a short period of time. Establishing bankruptcy courts .