Bankruptcy Law
Art. 158Status unknownSaudi ArabiaRegulation
Issued by Ministry of Investment (misa.gov.sa)
The court shall, on its own motion or upon the request of a person with interest, initiate a small debtors' liquidation procedure or administrative
liquidation procedure if:
a) the small debtor is distressed or bankrupt;
b) the conditions required for the initiation of a small debtors' liquidation procedure or administrative liquidation procedure are satisfied; and
c) the small debtors' financial restructuring procedure is terminated pursuant to Article 156(c), (d), (e), (f), or (g) of this Law.
The Arabic text is the legally binding version. The English translation is provided for guidance only.
Freshness not yet recorded