Bankruptcy Law
Art. 106Status unknownSaudi ArabiaRegulation
Issued by Ministry of Investment (misa.gov.sa)
If the trustee intends to sell an asset the value of which exceeds one quarter of the total value of the bankruptcy assets, he shall invite creditors to
vote in
accordance with Article 108 of this Law, or notify the creditors’ committee, if any, to consider approving such sale. The trustee shall provide
creditors with any information necessary to consider the feasibility of the purchase offers within a reasonable time.
The Arabic text is the legally binding version. The English translation is provided for guidance only.
Freshness not yet recorded