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First 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 first Egyptian focus group session about “Bankruptcy reform”, which was held on November 23 at the Nile group consulting in Cairo. A group of Egyptian jurists and businessmen participated in this meeting, in addition to the Egyptian legal expert in Bankruptcy, Dr. Salameh Arab. The meeting consisted of participants interventions on the subject of bankruptcy reform in Egypt including the possibilities of forcing the creditor to make amicable settlements with the debtor, and helping the debtor in reorganizing its business in case of repayment suspension, and conciliation between the creditors and the state interests from the economic and social sides, as well as establishing a central register for bankruptcy data recording and proceedings… At the end of the meeting, participants emphasized the importance of reforming the Egyptian bankruptcy law and finding solutions to the disadvantages that may be displayed by the practical reality of the current law as well as expressed their willingness to participate in the upcoming sessions to enrich the dialogue on these rules.