Financial Restructuring and Bankruptcy Law

Article 231 — Article (231) Recovery of the Goods, Ownership Interests or Real Estate from Debtor's Assets

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

1. If the sale contract is terminated by virtue of a judgment or a condition in the contract before a decision is issued to initiate bankruptcy proceedings with respect to the purchaser's debt, the seller may recover the goods, ownership interests or real estate from the debtor's assets if the same is physically available. 2. The recovery may be made even if the termination has been made after a decision is issued to initiate the proceedings, provided that the action for recovery or termination is filed before the aforementioned decision being issued. 3. The applications for recovery stipulated in this Article shall be submitted in accordance with the same controls and procedures contained in Article (228) of this Law.

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