Financial Restructuring and Bankruptcy Law

Article 150 — Article (150) Dismissal and Inadmissibility of Unenforceability Action

Part Three: Declaration of Bankruptcy · Chapter Four: Contracts

1. The Bankruptcy Court may order to dismiss the actions referred to in Articles (148) and (149) of this Law if it is convinced that the debtor has acted in good faith and with the aim of carrying out its business and that when it did so there were reasons to believe that the action could be beneficial to its business. 2. The action filed on the basis of Articles (148) and (149) of this Law shall not be heard after one year following the date of service the decision to initiate the proceedings.

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