Financial Restructuring and Bankruptcy Law

Article 95 — Article (95) Duties of the Trustee

Part Two · Chapter Two: Consequences of the Decision to Initiate Proceedings

1. The Bankruptcy Department shall notify the Trustee of the decision issued to appoint him within (10) ten days from the date of its issuance, and it shall provide him with all the information it has about the debtor. The Trustee shall, not later than (10) ten days from the date of being notified of the decision to appoint him, take the following measures: a. Announce a summary of the decision issued to initiate the proceedings, provided that the announcement includes an notice to the creditors to submit their claims and the supporting documents and hand over the same to him within a period not exceeding (30) thirty days from the date of the notification. b. Inform all creditors whose electronic addresses are known to him, to provide him with claims and documents not later than (30) thirty days following announcing the summary of the decision to initiate the proceedings. 2. The debtor shall provide the Trustee with any additional details of which it has not notified the Bankruptcy Department, whether about its creditors, debt amounts, details of any contracts under implementation and any pending or ongoing judicial proceedings to which the debtor is a party, within the time period specified by the Trustee.

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