Alqanoni

Bankruptcy Law

Art. 63
Status unknownSaudi ArabiaRegulation

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

1. Any creditor whose debt is established prior to the court's decision to initiate the financial restructuring procedure shall submit to the trustee within the period specified in Article 56 of this Law any due, future, conditionally suspended, or potential claims, or other claims that may have current or future financial value. The creditor shall attach to his claim the documents and information provided for in the Regulations, a statement of the value of his claim on the date of the court’s decision for the initiation of the procedure, the debt not yet due and its maturity date, and any other document supporting his claim. The creditor must also state if his claim is secured and the type of securities presented. 2. If the value of the claim is not precisely stated, the creditor shall submit the claim with an estimated value, and the trustee shall verify the actual value thereof.

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

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