Financial Restructuring and Bankruptcy Law

Article 233 — Article (233) Cases of Inadmissibility of Rescission and Recovery

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

If a decision is issued to initiate bankruptcy proceedings regarding the purchaser's debt before paying the price and after the goods have entered to its warehouses or the warehouses of its agent authorized to sell them, in addition to transferring ownership of the ownership interests or real estate to the name of the purchaser, the seller may not request rescission of the sale or recovery of the goods, and his right to the lien regarding the goods shall be forfeited.

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