Bankruptcy Law
Art. 35Status unknownSaudi ArabiaRegulation
Issued by Ministry of Investment (misa.gov.sa)
The proposal shall be deemed to have satisfied the standards of fairness if:
a) the creditors’ voting procedures are observed;
b) the creditors have obtained sufficient information to review the proposal as well as the alternatives available to the debtor as compared to the
items in the proposal; and
c) the outstanding creditors’ rights are observed, especially in respect of sharing losses, and the distribution of new rights, benefits, and securities.
The Arabic text is the legally binding version. The English translation is provided for guidance only.
Freshness not yet recorded