Financial Restructuring and Bankruptcy Law

Article 141 — Article (141) Termination of Lease agreement

Part Three: Declaration of Bankruptcy · Chapter Four: Contracts

Notwithstanding the provisions of Article (140) of this Law, the Trustee may, within sixty (60) days following the date of issuance of the decision to initiate bankruptcy proceedings, decide to terminate the lease agreement in respect of the property in which the debtor practices its business, after obtaining permission from the Bankruptcy Court. In this case, the Trustee shall notify the lessor of this decision within the aforementioned period.

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