Article 14 of the Saudi Implementing Regulations of the Bankruptcy Law
المادة 14 من اللائحة التنفيذية لنظام الإفلاس · الفصل الثاني: أحكام مشتركة بين إجراءات الإفلاس: طلب افتتاح إجراء الإفلاس
The trustee or the Bankruptcy Committee reviews and verifies creditors' claims, then prepares a list of them with specified details and submits it to the court for approval within 14 days of the end of the claims submission period.
Official text (Arabic)
This article has not been amended since the law was issued.
1- يراجع الأمين أو لجنة الإفلاس -بحسب الإجراء- مطالبات الدائنين، مع اتخاذ ما يلزم للتحقق من صحتها وقيمة كل منها والمعلومات المقدمة لإثباتها.
2- يعد الأمين أو لجنة الإفلاس قائمة بمطالبات الدائنين بناء على المعلومات المقدمة إليهم، على أن تقدم القائمة إلى المحكمة خلال (أربعة عشر) يوماً من تاريخ انتهاء المدة المحددة لتقديم المطالبات لاعتمادها، ويجب أن تتضمن القائمة ما يأتي:
أ- اسم كل دائن, وعنوانه, ومقدار مطالبته.
ب- تحديد الدائنين المضمونين, وتفاصيل الضمانات المقدمة لهم، وتقدير قيمة الأصول محل هذه الضمانات.
ج- الديون القابلة للمقاصة.
د- التوصية بالقبول أو الرفض أو العرض على خبير في شأن كل مطالبة مقدمة.
هـ - المعلومات والوثائق المحددة لذلك.
This is the official Arabic wording, the only legally binding version. We do not translate the law itself; the explanation below is ours. Official source: Bureau of Experts at the Council of Ministers
Article 14 explained in plain English
This article of the Implementing Regulations of the Bankruptcy Law regulates the stage that follows creditors' submission of their claims.
First: review and verification. The trustee or the Bankruptcy Committee, according to the procedure, reviews creditors' claims and takes what is needed to verify the validity of each claim, its value, and the information submitted to prove it.
Second: the list of claims. The trustee or the Bankruptcy Committee prepares a list of claims on the basis of the information submitted to them, and it is submitted to the court for approval within 14 days of the end of the period specified for submitting claims. The list must include:
- The name of each creditor, his address and the amount of his claim.
- Identification of secured creditors, the details of the security given to them, and an estimate of the value of the assets subject to this security.
- Debts capable of set-off.
- A recommendation on each claim: acceptance, rejection or referral to an expert.
- The information and documents specified for this purpose, which under Article 1 are what the Bankruptcy Committee specifies in coordination with the Ministry of Justice.
What this means for the creditor: what appears in the list about each claim is a "recommendation," and the list is submitted to the court for approval. Since the list is prepared on the basis of the information submitted, it is in the creditor's interest to attach to his claim what proves it when submitting it under Article 13, which requires the claim to be submitted to the trustee or the Bankruptcy Committee within the specified period and in the specified form.
This article does not state how to object to the list or to a recommendation. Anyone who believes his claim was listed at an incorrect value or was recommended for rejection would do well to consult a lawyer specializing in bankruptcy cases.
Practical example
A transport company in Jeddah submitted a claim of SAR 200,000 against a debtor in a liquidation procedure, and attached contracts and invoices. The trustee reviewed the claim and verified its value, then included it in the list of claims with a recommendation to accept it, and submitted the list to the court for approval within 14 days of the end of the claims submission period.
Translated from our Arabic explanation with machine assistance. For guidance only; it does not replace advice from a lawyer on your situation.
How we write and review contentCommercial & Corporate Law lawyers: ask a specialist about your case
Describe your situation briefly and we'll suggest a lawyer who specialises in this law
Commercial & Corporate Law lawyers
Lawyers who handle this kind of case
Ibrahim Al Salem Law Firm
Active contributor
Dr. Ali Al-Rubaie Law Office and Ittihad Al-Asr Legal Company
Frequently asked questions about Article 14 of the Saudi Implementing Regulations of the Bankruptcy Law
When is the list of creditors' claims submitted to the court?
Within 14 days of the end of the period specified for submitting claims.
What does the list of creditors' claims contain?
The name of each creditor, his address and the amount of his claim; secured creditors, their security and the value of the assets subject to it; debts capable of set-off; the recommendation on each claim; and the specified information and documents.
Does the trustee decide whether my claim is accepted?
The trustee or the Bankruptcy Committee recommends accepting the claim, rejecting it or referring it to an expert, and the list is submitted to the court for approval.
More articles on Creditors' Claims and Rights
- Article 10
This article of the Regulations gives the creditors' committee, creditor and debtor the right to inspect the procedure's information and documents held by the trustee or Bankruptcy Committee, unless declared confidential, with the right to object before the court.
1- للجنة الدائنين والدائن والمدين حق الاطلاع على ما لدى الأمين أو لجنة الإفلاس من معلومات ووثائق متعلقة بإجراء الإفلاس المفتتح للمدين ما لم يقرر الأمين أو لجنة
- Article 12
Enforcement against the assets securing the debtor's debt during the period of suspension of claims is carried out in accordance with the provisions of the relevant laws.
يكون التنفيذ على الأصول الضامنة لدين المدين خلال مدة تعليق المطالبات، وفقاً لأحكام الأنظمة ذات العلاقة.
- Article 13
The creditor submits his claim to the trustee or the Bankruptcy Committee within the period specified for submitting claims and in the specified form.
يقدم الدائن مطالبته إلى الأمين أو لجنة الإفلاس خلال المدة المحددة لتقديم المطالبات وفق النموذج المحدد لذلك.
- Article 30
During the stay of claims, the court considers a creditor's request when it finds its own property with the debtor, and orders its return where the property is unchanged, no part of the price was received, and the request is made within 5 days.
تنظر المحكمة -خلال مدة تعليق المطالبات- في طلب الدائن الذي وجد عين ماله عند المدين، وتقضي برد عين ماله في الحالات الآتية: أ - إذا لم يتغير ماله بزيادة أو نقصان
- Article 33
This article requires the debtor to notify creditors of the preventive settlement opening judgment within 7 days, and gives an unlisted creditor 14 days to ask for its claim to be included.
1- على المدين تبليغ الدائنين المحددين في المقترح بحكم المحكمة بافتتاح إجراء التسوية الوقائية خلال (سبعة) أيام من تاريخ صدوره، ودعوتهم إلى التصويت على المقترح، ع
- Article 43
This article allows someone who owns assets in the debtor's possession or held by it to ask the court to recover them, with the specified information and documents.
يقدم من يملك أصولاً تقع في حيازة المدين أو محجوزة لديه، طلباً إلى المحكمة لاستردادها، مرافقة له المعلومات والوثائق المحددة لذلك.
The texts are reproduced from the official website of the Bureau of Experts at the Council of Ministers for reference; where they differ, the officially published Arabic text prevails. This content is not legal advice.