In brief
Details the Bankruptcy Law procedures: protective settlement, financial reorganisation, liquidation and small-debtor procedures, claims lists, the trustee and the creditors' committee, and ending a procedure.
Summary of the law
Key points
- The trustee or bankruptcy committee prepares the list of creditors' claims from the information provided (Article 14), so file your claim and documents on time.
- Before applying to end a procedure, the debtor, trustee or creditors must be notified depending on who applies, and any interested party may object (Article 20).
Deadlines
- A trustee who is removed or resigns must hand over within 14 days under Article 23; if the court forms a creditors' committee, the trustee must act within five days as set in Article 24.
A plain-language summary prepared by Al-Bayan Al-Wadih Law Firm, focused on the violations and problems that come up most in daily life. It is not a substitute for the official text or for legal advice.
What it covers
- Opening applications
- Claims list
- Trustee and creditors' committee
- Ending a procedure
Timeline
- Issued: Council of Ministers Resolution 622 · 24/12/1439H
Full record of amendments and regulations at the official source
Official text at the Bureau of Experts
The authoritative text is in Arabic; the Bureau of Experts publishes English translations for some laws.
Full official text
The full official text is in Arabic and is reproduced on the Arabic version of this page, as published by the Bureau of Experts at the Council of Ministers. Read the full Arabic text
Library content is simplified general information for awareness only. It is not legal advice and does not replace the official text. Laws change: always check the official source and consult a lawyer before acting. Library data last reviewed: .