Alqanoni

Bankruptcy Law

Art. 56
Status unknownSaudi ArabiaRegulation

Issued by Ministry of Investment (misa.gov.sa)

1. The trustee shall, within seven days from the date of his appointment, publish in any of the mediums specified in the Regulations the court’s decision to initiate the financial restructuring procedure, and invite the creditors to submit their claims within a period not exceeding 90 days from the date of publication. 2. The trustee shall notify the creditors known to him of said court's decision in order to submit their claims within a period not exceeding 90 days from the date of notification.

The Arabic text is the legally binding version. The English translation is provided for guidance only.

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