Financial Restructuring and Bankruptcy Law

Article 52 — Article (52) Appointment of the Controller

Chapter Three: Appointment of the Trustee and Controller

1. The Bankruptcy Court may, sua sponte or upon motion of the debtor, the creditors or the Unit, where the debtor is supervised by the regulatory authority, assign the Unit or creditors to nominate one or more controllers from among the persons registered in the Roster of Experts and determine their fees, and the court shall issue its decision to appoint them and approve their fees. 2. The controller shall, without interfering in the proceedings, draw up a report on the progress of the proceedings in the event that the Bankruptcy Court requests so. The provisions of Articles (39, 41 and 51) of this Law shall apply to the controller.

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