xviii Jordan stakeholder interviews. xix From discussions of reformers in several countries, this is a common theme xx World Bank ICR Principle C10 xxi World Bank ICR Principle C11. xxii Observation by practitioners and reformers in the region. xxiii Jordanian Companies Law Article 255. xxiv _MENA Report,_ Chapter 7 Egypt, Chapter 10 Lebanon, Chapter 9 Kuwait, Chapter 13 Qatar. For Morocco information, Commercial Code of Morocco, Articles 679-685.

> xxv _MENA Report,_ Chapter 9 Kuwait, Chapter 14 Saudi Arabia, Chapter 16 Yemen.

> xxvi _MENA Report,_ Chapter 14 Saudi Arabia, Chapter 15 UAE, Chapter 16 Yemen. xxvii World Bank ICR Principles, C12.1 and C12.2. xxviii Commercial Code of Morocco, Article 575.

> xxix _MENA Report,_ Chapter 7 Egypt, Chapter 8 Jordan, Chapter 9 Kuwait, Chapter 13 Qatar, Chapter 14 Saudi Arabia.

> xxx Jordan Civil Code Sections 1322 _et seq_ , Commercial Code Article 331(3), Bureau of Law Interpretation decision No. 1, 2007, Jordanian Constitution Article 123/4, which gives the Bureau of Law Interpretation decision the force of law.

> xxxi _MENA Report_ , Chapter 12 Palestine.

> xxxii World Bank ICR Principle C5.2, _UNCITRAL Legislative Guide on Insolvency Law_ , B. 6. Preservation of the insolvency estate to allow equitable distribution to creditors, page 12. xxxiii World Bank ICR Principle C5.3

xxxiv For Morocco information, Commercial Code of Morocco Article 653. For Jordan information, Jordan Companies Law Articles 255, 267(d). _MENA Report,_ Chapter 6 DIFC,. Chapter 7 Egypt, Chapter 9, Kuwait,, Chapter 13 Qatar, Chapter 14 Saudi Arabia, Chapter 12 Palestine, Chapter 16 Yemen. xxxv Jordan Companies Law Articles 255, 267(d). xxxvi Commercial Code of Morocco Article 628. xxxvii _MENA Report,_ Chapter 7 Egypt, Chapter 9 Kuwait, Chpater 11 Oman, Chapter 15 UAE xxxviii _Egypt Report,_ page 17 footnote 69. xxxix _MENA Report,_ Chapter 7 Egypt. xl _MENA Report,_ Chapter 6 DIFC, Chapter 13 Qatar. xli Commercial Code of Morocco Article 653 xlii _MENA Report,_ Chapter 8 Jordan, Chapter 14 Saudi Arabia, Chapter 16 Yemen xliii _UNCITRAL Legislative Guide on Insolvency Law,_ I. B. 5. Provision for timely, efficient and impartial resolution of insolvency, page 12. xliv _MENA Report,_ Chapter 10.

> xlv Kuwait reports such problems in its auction procedures, applicable to movable and immovable assets. _MENA Report,_ Chapter 9 Kuwait. Such procedural problems are common across underdeveloped bankruptcy systems, and have been observed in Egypt by reformers as well. xlvi Observations of reformers in the region; the Egyptian law contains such provisions and reformers confirm that such personal penalties for bankruptcy exist in the region. xlvii Observations from reformers working with bankruptcy laws in numerous developing countries.

> xlviii _MENA Report,_ Chapter 7 Egypt, Chapter 9 Kuwait, Chapter 11 Oman, Chapter 13 Qatar, Chapter 12 Palestine, Chapter 14Saudi Arabia, chapter 15 UAE. xlix Observations of experts and reformers in the region.

> l _MENA Report,_ Chapter 9 Kuwait li Jordan interviews with stakeholders.

> lii _MENA Report,_ Chapter 12 Palestine, Chapter 13 Qatar, Chapter 14 Saudi Arabia liii Out of Court Workout

liv Anker Sorensen, Andrew Tetley, “Making France a More Attractive Forum for Restructuring in Europe: Part 1”, _American Bankruptcy Institute Journal,_ XXVIII ABI Journal 7, 46-47, 61, September 2009. Eurotunnel filed immediately after the new provisions took effect and was successfully restructured a year later; reorganizations seem to be increasing in practice.

lv Commercial Code of Morocco Article 579.

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