The Protection of Home Rights by Insolvency Laws in England and Saudi Arabia

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ACKNOWLEDGEMENTS

My thanks go out to all who have helped me complete this study and with whom this project may have not been possible. In particular, my gratitude goes out to friends, facilitator and family for extensive and helpful comments on early drafts. I am also deeply indebted to the authors who have shared my interest and preceded me. Their works provided me with a host of information to learn from and build upon, also served as examples to emulate.

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DECLARATION

I, (Your name), would like to declare that all contents included in this thesis/dissertation stand for my individual work without any aid, & this thesis/dissertation has not been submitted for any examination at academic as well as professional level previously. It is also representing my very own views & not essentially which are associated with university.

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TABLE OF CONTENTS

ACKNOWLEDGEMENTSii

DECLARATIONiii

CHAPTER 1: INTRODUCTION1

1.1 Introduction1

1.2 Background3

1.3 Objective, hypothesis and questions5

1.4 Research Methodology6

1.5 Justification7

1.6 Chapter Outline9

1.7 Conclusion10

2.1 Introduction11

2.2 The home right concept12

2.2.1 Home rights in UK13

2.2.2 Home rights in Saudi Arabia14

2.3 The Invocation of the Home Right16

2.3.1 Invocation by the English Non-bankrupt Spouse17

2.3.2 Invocation by the Saudi Non-bankrupt Spouse19

2.4 Conclusion19

CHAPTER 3: THE RATIONALE OF THE CREDITOR'S CLAIM21

3.1Introduction21

3.2Theoretical possibility for Saudi Arabia and England21

3.3Debtor's liability towards the accounts of bankruptcy22

3.4 Saudi Arabia Plurality24

3.5Powers of management and disposition of spouse contest for UK25

3.6Understanding the treatment of bankruptcy in UK and Saudi Arabia28

3.7Conclusion31

CHAPTER 4: BALANCING THE COMPETING INTERESTS32

4.1 Over-indebtedness of individuals33

4.2 Simplified bankruptcy procedure33

4.3 Enhancing the receivers34

4.4 Analysis of the relationship between competition and labour reorganizational measures35

4.5 Instruments workouts.35

4.6 Communication and recognition of credits37

4.7 Credit Rating in terms of bankruptcy for both states37

4.8 With creditors37

4.9 Work done in line of Bankruptcy38

4.10 Liability of directors of companies in bankruptcy38

4.11 Protection of the goodwill of the insolvent39

4.12 Development of a bankruptcy debt market39

4.13 Insolvency effects on English procession40

CHAPTER 5: CONCLUSION56

5.1 Saudi Community63

5.2 The social imbalance in Saudi Arabia67

5.3 Debate in insolvency law68

5.4 Insolvency regime69

ARTICLES74

CHAPTER 1: INTRODUCTION

1.1 Introduction

This dissertation undertakes a comparative study of the insolvency laws respectively applicable in the UK and in Saudi Arabia with respect to the protection of the home rights of the non-bankrupt spouse in cases of bankruptcies. The critical analysis of those two different legal systems, set in different social contexts ultimately aims to answer the research question

Research Question

The research question for this paper is “What is the most appropriate means of striking a balance between the competing interests of creditors and non-bankrupt family members?” The reason to choose the accounts competing interests specifically between Saudi Arabia and England is to understand and comprehend the treatment of policies followed by two distinct peninsulas, both representing two substantially different economic progressions.

In particular, the study documents most major amendments to the insolvency laws occurring during severe economic depressions and widespread default. This is a repeated theme. It will be noted, however, that insolvency law has generally evolved from publicly condoned private debt contract enforcement practices in the collective interest of creditors treating early ...