Background
The Ministry of Economy and Finance convened a multi‑agency discussion to shape a consolidated Bankruptcy Code for Cambodia. The meeting on September 28, 2026, was chaired by H.E. Dr. Phan Phalla as Secretary of State and Secretary General of the Economic and Financial Policy Committee.
Representatives from the Trust Regulator attended alongside officials from the Office of the Council of Ministers, the Ministry of Justice, the Ministry of Commerce, the National Bank of Cambodia, and regulators under the Non‑Bank Financial Services Authority. The stated objective was to gather inputs from competent ministries and institutions to ensure consistency between the proposed code and existing laws and subordinate regulations.
Scope of Application
The discussions were framed around a national Bankruptcy Code designed to provide a unified statutory framework for insolvency procedures, creditor rights, and rehabilitation mechanisms across sectors. Participants addressed the need for the code to dovetail with existing banking and non‑bank financial regulation, commercial law, and judicial procedures without altering currently applicable authorities.
Key Provisions or Decisions
Meeting participants focused on the framework and conceptual approach for drafting the Bankruptcy Code and on collecting technical inputs from relevant agencies. Attendees included H.E. Sok Dara, Director General of the Trust Regulator, Ms. Chhean Sokhary, Director of the Department of Legal Affairs and Inspection, and representatives from the Ministry of Economy and Finance and other line ministries and regulators. The meeting was held at the conference hall of the Ministry of Economy and Finance.
Implications for Investors, Businesses, or Compliance
A consolidated Bankruptcy Code would serve as the primary legal instrument to structure insolvency proceedings and creditor claim processes, and it would require alignment of implementing regulations across financial supervisors and commerce authorities. Businesses and financial institutions will need to review compliance procedures and contractual templates to reflect any new statutory procedures once the code is drafted and promulgated.
Official Source
Official notice and summary of attendance published by the Trust Regulator on September 28, 2026: Trust Regulator Facebook post. Additional Trust Regulator information available at the agency website and official channels.
