Financial Restructuring and Bankruptcy Law

Article 65 — Article (65) Representative of Creditors' Committee

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

1. The Creditors' Committee shall, within ten (10) days from the date of its notification of the decision to form the committee, determine the issues to be assigned to the committee's representative and notify the debtor, the Bankruptcy Department and the Unit, if the debtor is supervised by the regulatory authority. As of the date of this notification, the creditors shall be notified of all matters required to be informed through the creditors' representative, as required by this Law. 2. The representative of the committee shall notify its members of the notifications he receives not later than the day following the date of receiving the same. The same provision shall apply to the representative of each category of debt with respect to the creditors of such category.

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