Islamic Finance: Bankruptcy, Financial Distress and Debt Restructuring: A Short Report

The Islamic Finance Project and Islamic Legal Studies Program of Harvard Law School organized a panel discussion in Pound Hall on September 26, 2011 entitled “Islamic Finance: Bankruptcy, Financial Distress and Debt Restructuring”. The goal of the seminar was to create an understanding of recently reported cases of bankruptcy and debt restructuring of Islamic finance products. The discussion paper was prepared and presented by Ibrahim Warde, Adjunct Professor, The Fletcher School, Tufts University, Medford, Massachusetts, and there were four panelists: Chibli Mallat, Custodian of the Two Holy Mosques Visiting Professor of Islamic Legal Studies, Harvard Law School, Presidential Professor of Law and Professor of Middle Eastern Law and Politics, S.J. Quinney College of Law, University of Utah; Umar F. Moghul, Partner, Murtha Cullina LLP, Hartford; Muddassir Siddiqui, Partner and Head of Islamic Finance, SNR Denton & Co., Dubai, United Arab Emirates and; Kristen Stilt, Custodian of the Two Holy Mosques Visiting Associate Professor of Islamic Legal Studies, Harvard Law School.