Financial Restructuring and Bankruptcy Law

Article 64 — Article (64) List of Debt Categories and Rankings

Part One: Preventive Settlement · Chapter Two: Effect of Issuance of Decision to Initiate Preventive Settlement Proceedings

The debtor shall submit to the Bankruptcy Department, within (10) ten days as of the end of the period stipulated in Article (63) of this Law, a list of debt categories, indicating the type, amount, and ranking of the debt, as well as the creditor's name and representative, and its electronic email and physical address. Such list shall contain a statement on the formation of the Creditors' Committee, indicating the name of the committee's representative and its members, the category of debt represented by each member and the member's physical address and electronic email. The Bankruptcy Court shall issue a decision approving the formation of the committee within (10) ten days from the date of filing this formation, and the Bankruptcy Department shall notify the debtor, the creditors, the controller and the Unit, where the debtor is supervised by the regulatory authority, of the such decision.

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