July 05, 2019

In this article, Jenner & Block Partner Christian Tuddenham highlights two high-profile collapses that prompted regulatory improvements in the Middle East.  One case involves the Saudi-based Saad Group, which entered liquidation in 2009 having defaulted on billions of dollars of debt.  The other involves Dubai’s Abraaj Group, now insolvent and facing creditor claims in excess of $1 billion.  Mr. Tuddenham explores issues of transparency and governance, the role for the regulator and positive developments that arose from the cases.