Bankruptcy Law
Art. 102Status unknownSaudi ArabiaRegulation
Issued by Ministry of Investment (misa.gov.sa)
1. The initiation of the liquidation procedure shall result in commencement of the liquidation of bankruptcy assets.
2. The trustee shall liquidate the bankruptcy assets, except for assets the court approves to be retained by a natural person debtor to provide him
and his dependents with a decent standard of living, based on the trustee’s assessment. The debtor shall assist the trustee in the evaluation of the
assets in order to determine assets that may be retained by the debtor.
The Arabic text is the legally binding version. The English translation is provided for guidance only.
Freshness not yet recorded