Financial Restructuring and Bankruptcy Law

Article 223 — Article (223) Preventing the Debtor from Repaying Debts After Initiation of Proceedings

Part Four: Common Provisions · Chapter One: Effects of Decision to Initiate the Proceedings

1. After the issuance of the decision to initiate the proceedings, the debtor may not repay its debts. 2. The debtor may, subject to prior approval of the Bankruptcy Court, pay off its debts arising from the rights of employees and suppliers of machinery, equipment, tools, goods, services or other things necessary for the continuation of the debtor's business and the preservation and development of its assets, as well as the necessary expenses for the debtor and its family so that these amounts are paid on their due dates periodically from the debtor's assets.

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