Financial Restructuring and Bankruptcy Law

Article 193 — Article (193) Composition Application Filed by Trustee or Debtor

Part Three: Declaration of Bankruptcy · Chapter Eleven: Execution and Effects of Composition

1. If the composition application is submitted by the trustee, the latter shall attach thereto a comprehensive report on the state of the bankruptcy proceeding and actions taken in respect thereof, and evidence that he presented the terms of composition to the debtor and gave him at least (10) ten days to express his opinion regarding the same, indicating whether or not the debtor has expressed his opinion on the terms of the composition, as well as the trustee's comment on the debtor's opinion. 2. If the application is submitted by the debtor, the latter shall notify the trustee of the terms of the composition before submitting the application. In addition, the debtor shall request the trust to provide the former with his opinion on them and provide him with a report on the state of the bankruptcy proceeding and the proceedings that have been taken in connection therewith. 3. The trustee shall provide the debtor with the required item(s) within (10) ten days following the date of notification, and the debtor shall indicate in the application a proof confirming that he has taken such measures, as well as the observations he received from the trustee and his comments thereon. The report sent by the trustee shall be attached with the application in the event that the trustee has responded to the debtor.

WAWhatsAppTGTelegram