Financial Restructuring and Bankruptcy Law

Article 241 — Article (241) Suspension of Liquidating or Placing the Company under Receivership

Part Four: Common Provisions · Chapter Two: Companies

If the debtor is a company and it is decided to initiate proceedings regarding its debts, adjudication of every application whose subject is the liquidation of the company or its placement under judicial receivership, shall be suspended. In addition, the identity of the company being liquidated shall continue until the completion of the proceedings stipulated in this Law.

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