Litigation and Liquidations

The Litigation and Liquidation Department is one of our company’s divisions, with accumulated expertise exceeding forty years. Its staff members possess extensive scientific and practical experience in all professional services offered. The department’s services vary to meet a wide range of our clients’ needs, including competencies in financial litigation, liquidation of establishments and estates, and judicial guardianship. These services are delivered through distinctive and diverse expertise through utilizing technologies and electronic platforms to achieve speed and quality in service delivery.

Our Services:

1. Forensic Accounting.

Forensic accounting services involve engagements in which a forensic accountant is engaged to provide a report as an expert in their field regarding a financial or accounting matter that is the subject or part of a civil, commercial, or administrative financial case being adjudicated by a litigating body.

2. Judicial Custodianship.

Judicial custodianship is the deposit of disputed funds under the control of a neutral third party agreed upon by all concerned parties, or alternatively appointed by the court. The subject matter of custodianship can encompass both movable and immovable assets, or a combination of both.

3. Company liquidation.

Company liquidation is conducted in accordance with the provisions outlined in Chapter Eleven of the Companies Law. The primary responsibility of the liquidator is to inventory all assets and liabilities of the company, settle the company’s obligations, convert company assets (whether movable or immovable) into cash, and distribute the liquidation surplus among the partners according to their respective shares in the company’s capital.

4. Estate Settlement.

The overarching concept of estate settlement pertains to the residual assets left by a deceased individual, which may include cash, real estate, personal property, and other holdings. The estate’s executor is appointed either voluntarily by the heirs or judicially through a court order issued by a judicial authority.

Detailed Content

1. Forensic Accounting:

● Judicial disputes exhibit non-standardized characteristics, necessitating the legal accountant to outline the minimal procedures to be applied by the auditor to execute the assigned task, forming the basis for their report. Consequently, the legal accountant must exercise professional judgment, ensuring due diligence to obtain sufficient evidence for realistic findings that underpin conclusions about the assigned task, whether the evidence is sourced from the appointing party, litigating bodies, or other sources. Throughout the process, the legal accountant must maintain an inquisitive and investigative mindset when analyzing and evaluating acquired information and formulating professional judgments on document acceptance.

2. Judicial Custodianship:

● Judicial custodianship is the deposit of disputed funds under the control of a neutral third party agreed upon by all concerned parties, or alternatively appointed by the court. The subject matter of custody can encompass both movable and immovable assets, or a combination of both. Parties in dispute over jointly held funds often resort to judicial or executive authorities to resolve disagreements over ownership, possession, or management. In such cases, one party may petition the judiciary to appoint a judicial custodian to manage the jointly held funds until the dispute is resolved.

3. Company Liquidation:

● The issuance of the new Saudi Companies Law by Royal Decree No. M/132 for the year 1443H integrated the Companies Law and the Professional Companies Law including causes for the dissolution of companies. The liquidator's duty entails conducting a comprehensive inventory of the company's assets and liabilities, settling all outstanding obligations, converting company assets (movable or immovable) into liquid assets, and distributing the surplus among the partners in accordance with their respective capital contributions. Finalizing the liquidation process involves closing all company files with regulatory bodies and deregistering the company from the commercial registry. The liquidator is appointed either optionally by the partners pursuant to a decision issued by the partners or an extraordinary general assembly resolution issued by the shareholders, or judicially by virtue of a judicial ruling issued by a judicial authority.

4. Estate Settlement:

● The general concept of an estate pertains to the assets left by a deceased individual, which may include cash, real estate, personal property, and other holdings. In this context, heirs take steps to inventory the estate for the purpose of distribution. In some cases, heirs may engage the services of a licensed and trustworthy legal accounting office to legally finalize these procedures, facilitating the lawful division and distribution of shares in accordance with Islamic law.

● High expertise in both the accounting and legal domains is imperative for estate liquidation services in Saudi Arabia. This is available within our team, allowing our clients to get the maximum benefit from our services as follows:

1. Identifying heirs, determining the estate, and liquidating it, whether internally or externally, judicially or amicably.ssdsadsafdbjk
2. Conducting the necessary auditing in any legal transactions related to inventory, liquidation, and distribution.
3. Not liquidating estates before ensuring their value and suitability to the current market value. 4. Providing estate inventory and liquidation services based on the best available options, ensuring our clients' interests are met.
5. Selecting the best legal strategies regarding inventorying the debts, both current and future, of the estate, and working towards their settlement, as well as identifying the estate's receivables, both current and future, and working towards their collection.
6. Completing the procedures for estate liquidation in accordance with the laws and regulations adopted in the Kingdom of Saudi Arabia to ensure fair distribution.