Financial Restructuring and Bankruptcy Law

Article 290 — Article (290) Submission of Application for Rehabilitation

Part Seven · Chapter Two: Rehabilitation of Insolvent Debtor

1. The application for establishing rehabilitation, accompanied by supporting documents, shall be submitted to the Bankruptcy Department. The Bankruptcy Department shall send the application within (10) ten days from the date of its submission to the Public Prosecution, and it shall be recorded in the Commercial Register. 2. The Bankruptcy Department shall, within ten (10) days from the date of submitting the application, notify the creditors whose debts were approved in the bankruptcy proceeding of the application for establishing rehabilitation. 3. The summary of the application shall be announced at the insolvent debtor's expense, and the summary shall include the name of the insolvent debtor, the date of issuance of judgment declaring bankruptcy, the method of ending the bankruptcy proceeding and a notice to the creditors to submit their objection, if necessary.

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