Financial Restructuring and Bankruptcy Law

Article 125 — Article (125) Affixation of Seals

Part Three: Declaration of Bankruptcy · Chapter Two: Effects of Issuance of Decision to Initiate Bankruptcy Proceedings

1. The Bankruptcy Court assigns an employee of the Bankruptcy Department to, within (10) ten days following the date of issuance of the decision to initiate Bankruptcy Proceedings, affix seals on the debtor's businesses, offices, stores, books, papers and movables, in addition, a report shall be drawn up on the affixation of seals, which shall be submitted to the court. 2. If the Bankruptcy Court comes to know that it is possible to conduct an inventory of the debtor's assets in one day, it may assign whomever it deems appropriate to carry out the inventory without the need to affix seals.

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