Financial Restructuring and Bankruptcy Law

Article 37 — Article (37) Appointment of Multiple Trustees

Chapter Three: Appointment of the Trustee and Controller

1. The Bankruptcy Court may, sua sponte or upon motion of the debtor or the Unit, if the debtor is supervised by a regulator authority, assign the Unit to nominate more than a Trustee and suggest the amount of their fees, and it shall issue its decision to appoint them and approve their fees. 2. If there are multiple Trustees, they shall work together, and the Trustees shall be jointly responsible for their work, and it is permissible for them to act on behalf of each other. However, they may not delegate third parties without obtaining the permission from the Bankruptcy Court, and the Trustee and whoever represents him shall be jointly responsible. The court may divide the duties among the Trustees or entrust any of them with a specific mission. In which latter case, the Trustee shall only responsible for the mission he is assigned to perform.

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