The impacts of the administrative liquidation procedure according to the latest Saudi Bankruptcy Law 2018 | ||||
| مجلة الدراسات القانونية والاقتصادية | ||||
| Article 17, Volume 8, Issue 2, June 2022, Page 1564-1580 PDF (560.57 K) | ||||
| Document Type: المقالة الأصلية | ||||
| DOI: 10.21608/jdl.2022.243902 | ||||
 View on SCiNiTO | ||||
| Author | ||||
| MAEN MOHAMMED AMIN ALI AL-QUDAH | ||||
| King Saud University | ||||
| Abstract | ||||
| The administrative liquidation procedure is an important procedure which is addressed by the Saudi Bankruptcy Law. The importance of the administrative liquidation procedure comes from its purpose. In this sense, the article 167 of the latest Saudi Bankruptcy Law determines the goal of the administrative liquidation procedure which is to sell the bankruptcy assets that are lacking to cover the costs of liquidation or liquidation for small debtors procedure. In addition, the latest Saudi Bankruptcy Law considers that the debtor or the competent authority is entitled to apply for the administrative liquidation procedure when the debtor is financially stressed or bankrupt provided that the assets are deficient to face the costs of liquidation or liquidation for small debtor’s procedure. The administrative liquidation procedure comes up with some questions which will be discussed in this research paper: is it an essential finding such a procedure under the latest Saudi Bankruptcy Law 2018? Are the legal provisions suitable and adequate to handle this procedure? The main question is that: What are the impacts of the administrative liquidation procedure according to the Saudi Bankruptcy Law 14.02.2018? Consequently, this research paper will focus on the impacts of the administrative liquidation procedure according to the Saudi Bankruptcy Law 14.02.2018 issued by Royal decree number (M/50) dated 14.022018 with reference to its implementing regulations issued by Council of Ministers' decision number (622) dated 05.09.2018 in terms of appointing a committee of bankruptcy, postponement creditors' claims, preparing a list of the creditor’s claims, maturity Debtor’s postponed debt, termination of labor contracts, inventory and selling the bankruptcy assets. | ||||
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