Article 48 of the Saudi Implementing Regulations of the Bankruptcy Law
المادة 48 من اللائحة التنفيذية لنظام الإفلاس · الفصل الخامس: إجراء التصفية: طلب السداد
This article requires that a creditor's payment request to the debtor under paragraph (2/c) of Article 93 of the Law be dated and state the amount of the debt and its cause.
Official text (Arabic)
This article has not been amended since the law was issued.
يجب أن يكون طلب سداد الدين الذي يقدمه الدائن إلى المدين بموجب الفقرة ( 2 / ج ) من المادة (الثالثة والتسعين) من النظام مؤرخاً ومحدداً فيه مقدار الدين وسبب نشوئه.
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 48 explained in plain English
This article is within the provisions on the liquidation procedure in the Implementing Regulations of the Bankruptcy Law, under the heading "payment request". It concerns the debt payment request that a creditor submits to the debtor under paragraph (2/c) of Article 93 of the Bankruptcy Law.
The article sets formal conditions for this request, which must be:
- Dated, that is, bear the date it was submitted.
- State the amount of the debt.
- State the cause of the debt, such as the price of goods, a loan or rent.
The purpose of these conditions is that the request is clear and provable, so that the debtor knows what is being claimed from it and its source, and the date of the request can be referred to when needed. The article does not mention the effect that follows from the request or the periods linked to it; it is limited to stating what the request must contain.
Note that the reference here is to Article 93 of the Bankruptcy Law, not to an article in the Regulations. This article is followed by Article 49, which requires the debtor, if it itself asks to open the liquidation, to notify its creditors and gives them a right to object.
Because the lack of any of these details may weaken the creditor's position, it is advisable to consult a lawyer who specializes in bankruptcy and commercial cases before sending the request.
Practical example
A supply company in Riyadh is owed SAR 400,000 by a commercial customer as the price of unpaid goods. When sending the payment request to it under the mentioned paragraph of the Law, the company makes sure the request is dated and states the amount and that it is the price of goods supplied.
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 48 of the Saudi Implementing Regulations of the Bankruptcy Law
What conditions must a debt payment request meet before liquidation?
It must be dated and state the amount of the debt and its cause.
Who submits the payment request?
The creditor submits it to the debtor under paragraph (2/c) of Article 93 of the Bankruptcy Law.
More articles on Liquidation of the Debtor's Assets
- Article 3
This article of the Regulations requires the debtor's directors or board members, before a voluntary liquidation item is put to a vote, to submit an auditor's report and a written declaration to the Ministry or the Capital Market Authority.
يلتزم أعضاء مجلس إدارة المدين أو مديروه أو أعضاء مجلس مديريه أو من في حكمهم - قبل إدراج بند التصفية الاختيارية للمدين؛ للتصويت عليه في جمعية المساهمين أو جمعية
- Article 5
After registration of a request to open any liquidation procedure, the court may appoint a trustee to replace the debtor in managing its activity, or seize the debtor's assets.
للمحكمة -من تلقاء نفسها أو بناء على طلب ذي مصلحة- أن تأمر, بعد قيد طلب افتتاح أي من إجراءات التصفية، بأي مما يأتي: أ - تعيين أمين مدرج في قائمة الأمناء يحل محل
- Article 11
The trustee sells the bankruptcy estate's assets after the judgment or decision opening the liquidation procedure, or the liquidation procedure for small debtors, becomes final.
يتولى الأمين بيع أصول التفليسة بعد اكتساب حكم أو قرار افتتاح إجراء التصفية أو إجراء التصفية لصغار المدينين الصفة النهائية.
- Article 21
A natural-person debtor who has not been discharged from a remaining debt must notify creditors if he starts a profit-making activity within 24 months of ending liquidation, and apply to distribute any money that comes to him.
1- على المدين ذي الصفة الطبيعية -الذي لم يبرأ من دين متبق في ذمته- تبليغ دائنيه عند بدء ممارسته نشاطاً تجارياً أو مهنياً أو يهدف إلى تحقيق الربح خلال (أربعة وعش
- Article 26
This article sets out the creditors' committee's tasks in representing the creditors, including approving the sale of any asset worth more than a quarter of the bankruptcy estate's assets, and lets its chair set the time and place of meetings.
1- تلتزم لجنة الدائنين بتمثيل الدائنين في المهمات المنصوص عليها في النظام واللائحة، وتشمل مهماتها الآتي: أ - الموافقة على بيع أي أصل تتجاوز قيمته ربع قيمة أصول
- Article 49
This article requires a debtor who requests liquidation to notify its creditors of the request and hearing date within 7 days of registering it, and allows a creditor to object at least 5 days before the hearing.
على المدين -إذا تقدم بطلب افتتاح إجراء التصفية- تبليغ دائنيه بالطلب, وموعد جلسة النظر فيه خلال (سبعة) أيام من تاريخ قيده. وللدائن تقديم اعتراض إلى المحكمة على ا
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.