Financial Restructuring and Bankruptcy Law — Article 194 — Article (194) Notification of Submission of Composition Application

The Bankruptcy Department shall, within ten (10) days from the date of submitting the composition application, notify the Unit, where the debtor is supervised by the regulatory authority, of the application and its attachments. Within the same period, it shall notify the creditors and the trustee if the application is submitted by the debtor. Likewise, it shall also notify the debtor if the application is submitted by the trustee.

Interpretation and application must be checked against the official text and current version.