Financial Restructuring and Bankruptcy Law

Article 135 — Article (135) Scope of Prevention of Debtor's Dispositions

Part Three: Declaration of Bankruptcy · Chapter Three: Management of the Debtor's Assets and Business

1. The prevention of the debtor from disposing of its assets include all the assets owned by it on the day the decision to initiate Bankruptcy Proceedings is issued and the assets owned by the debtor after the issuance of this decision. 2. The prevention of the debtor from disposing of its assets does not include the following: a. Unattachable assets and the subsidy decided to be granted thereto. b. Money owned by third parties. c. Rights connected with its person or personal status. d. Compensations due to the beneficiary in a valid insurance contract concluded by the debtor before the issuance of the decision to initiate bankruptcy proceedings. The beneficiary shall refund to the Trustee all insurance premiums paid by the debtor starting from the day designated by the Bankruptcy Court as the date for cessation of payment.

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