Article 34 of the Saudi Implementing Regulations of the Bankruptcy Law
المادة 34 من اللائحة التنفيذية لنظام الإفلاس · الفصل الثالث: إجراء التسوية الوقائية: تأشير الأمين على المقترح
This article of the Regulations requires the debtor to lodge the court's decision approving or extending a stay of claims with the Bankruptcy Register immediately upon its issue.
Official text (Arabic)
This article has not been amended since the law was issued.
على المدين أن يودع لدى سجل الإفلاس قرار المحكمة بالموافقة على طلب تعليق المطالبات أو تمديده فور صدوره.
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 34 explained in plain English
This article of the Implementing Regulations of the Bankruptcy Law addresses a procedural duty of the debtor in the protective settlement procedure relating to the decision on staying claims.
If the court issues a decision approving a request to stay claims, or a decision extending the stay, the debtor must:
- lodge the decision with the Bankruptcy Register;
- make the lodging immediately upon the decision's issue, without delay.
The article does not set a number of days but uses the phrase "immediately upon its issue", meaning that lodging is required directly after the decision is issued. The aim of lodging with the Bankruptcy Register is to make the decision available and record it in the official register of bankruptcy procedures.
This article does not state the effects of staying claims, its duration or the conditions for extending it; these matters are regulated by the Bankruptcy Law and other provisions. Its provision is limited to the duty of lodging.
This article comes after Article 33, which regulates notifying creditors of the opening judgment, and before Article 35 on requests submitted under Article 21 of the Law. To know the consequences of a stay decision in your case, a lawyer specializing in bankruptcy and commercial cases can be consulted.
Translated from our Arabic explanation with machine assistance. For guidance only; it does not replace advice from a lawyer on your situation.
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Frequently asked questions about Article 34 of the Saudi Implementing Regulations of the Bankruptcy Law
When does the debtor lodge the decision to stay claims with the Bankruptcy Register?
Immediately upon the court's decision approving the stay or extending it.
Does lodging include a decision extending the stay?
Yes. The article covers both the decision approving a request to stay claims and the decision extending it.
Who is responsible for lodging the decision?
The debtor is required to lodge it with the Bankruptcy Register.
More articles on Protective Settlement
- Article 16
This article of the Regulations specifies the details the proposal must include, as the case may be, such as the debtor's financial position, assets and debts, the proposed settlement, classification of creditors and the plan's timetable.
يجب أن يتضمن المقترح -بحسب الأحوال- ما يأتي: أ - معلومات عن المدين ونشاطه. ب- بيان الوضع المالي للمدين وتأثيرات الوضع الاقتصادي عليه. ج - تحديد أصول المدين وتقد
- Article 17
The meeting management rules apply to managing the vote on the proposal, the debtor or trustee prepares minutes of the voting meeting with specified details, then deposits the voting result with the court.
1- تسري قواعد إدارة الاجتماعات على إدارة عملية التصويت على المقترح. 2- يعد المدين أو الأمين -بحسب الإجراء- محضراً لاجتماع الدائنين للتصويت على المقترح، يقيد فيه
- Article 31
This article of the Regulations sets the cases in which the court agrees to put a proposal to amend the plan to creditors and owners for a vote, and allows a stay of claims.
1 - توافق المحكمة -بناءً على طلب المدين أو الأمين بحسب الإجراء- على تقديم مقترح لتعديل الخطة للدائنين والملاك وتحدد موعداً للتصويت عليه، وذلك في أي من الحالات ا
- Article 32
This article of the Regulations requires that the proposal for a protective settlement be endorsed by a trustee on the list of trustees as meeting the required information and documents.
يجب أن يكون المقترح المرافق لطلب افتتاح إجراء التسوية الوقائية مؤشراً عليه من أمين مدرج في قائمة الأمناء باستيفائه المعلومات والوثائق المطلوبة.
- Article 33
This article of the Regulations requires the debtor to notify creditors of the opening of the protective settlement within 7 days and gives an omitted creditor 14 days to request inclusion of its claim.
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 35
This article of the Regulations requires that a request submitted under paragraphs (1) and (3) of Article 21 of the Bankruptcy Law be accompanied by the information and documents specified for it.
يقدَّم الطلب بموجب الفقرة (1) والفقرة (3) من المادة (الحادية والعشرين) من النظام, 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.