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Second focus group session on “the Middle East Regional Bankruptcy Reform Initiative “ project in Egypt
Within the framework of “Middle East Regional Bankruptcy Reform Initiative, the Arab Center for the Rule of Law and Integrity has organized the second Egyptian focus group session about “Bankruptcy reform”, which was held on December 9, 2013 at the Marriott Zamalek – Cairo. A group of Egyptian jurists and businessmen participated in these meetings, in addition to the chief technical advisor from Lebanon, Dr. Wassim Harb, the two experts in Bankruptcy from Jordan and Egypt, the former Minister of Justice in Jordan, Dr. Ayman Odeh, and Dr. Salameh Arab. The meeting includes a speech by Dr. Wassim Harb about the objectives of the joint cooperation between the Arab Center, Bakr and Odeh foundation from the Hashemite Kingdom of Jordan and the Nile Group Law Firm of Egypt, aiming to foster the investment in the Middle East and to modernize the commercial laws in both Jordan and Egypt especially the bankruptcy laws and regulations. Dr. Harb pointed out that the selection of Egypt state lies in being the legislative source from which all Arab countries will benefit, while Jordan is currently experiencing a dynamism in the legislation modernization. Dr. Harb also emphasized the importance of striving towards reforming bankruptcy laws, especially that bankruptcy systems in both countries need reform in line with the international efforts for legal reform. Moreover, Dr. Salame Arab has explained the reform approaches focusing on the way to protect small traders from the big traders, as well as the need for restructuring the pre-bankruptcy and post-bankruptcy privileges. Dr. Odeh underlined the impact of the Egyptian legislations on the Jordanian legal environment. At the end of the meeting, the questionnaire on bankruptcy was distributed to the audience who addressed some inquiries about it.
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