Bankruptcy Law
Art. 198Status unknownSaudi ArabiaRegulation
Issued by Ministry of Investment (misa.gov.sa)
The sale proceeds of a bankruptcy asset shall be distributed to creditors of equal priority, and if the proceeds are insufficient to satisfy the debts
of said creditors, the proceeds shall be distributed on a pari passu basis between creditors.
Article 199 Distribution of Priority Debts in other than the Liquidation Procedure
The Regulations shall determine the priority of dues in other than the liquidation procedure, small debtors' liquidation procedure, and
administrative liquidation
procedure.
Chapter 13 Revocable Transactions and Penalties
The Arabic text is the legally binding version. The English translation is provided for guidance only.
Freshness not yet recorded