Article 64 of the Saudi Implementing Regulations of the Bankruptcy Law
المادة 64 من اللائحة التنفيذية لنظام الإفلاس · الفصل السابع: إجراء إعادة التنظيم المالي لصغار المدينين: افتتاح الإجراء
The small debtor, with the trustee's help, prepares the proposal within 30 days of the end of the period for submitting claims, and the court may extend this by up to 30 days at the trustee's request.
Official text (Arabic)
This article has not been amended since the law was issued.
يعد المدين الصغير -بمساعدة الأمين- المقترح خلال (ثلاثين) يوماً من انقضاء مدة تقديم المطالبات، وللمحكمة -بناءً على طلب الأمين- تمديد هذه المدة بما لا يزيد على (ثلاثين) يوماً.
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 64 explained in plain English
This article of the Regulations sets the time limit for preparing the proposal in the financial reorganization procedure for small debtors.
- Who prepares the proposal? The small debtor itself, but with the trustee's help.
- When does the period start? From the end of the period for submitting claims, not from the date the procedure opens.
- How long is the period? 30 days.
- Can it be extended? Yes. The court may extend it at the trustee's request, provided the extension does not exceed 30 days.
Note that, according to the text, the request for an extension comes from the trustee, that the extension is at the court's discretion and not an automatic right, and that its upper limit is 30 days.
The article connects to those before and after it: Article 63 deals with filing the opening judgment or the decision accepting the judicial filing in the Bankruptcy Register, and Article 65 requires the trustee, when the proposal is filed with the court, to attach his report on the possibility of the creditors approving it and its feasibility. This article does not state the period for submitting claims itself or the content of the proposal, which should be consulted in the Bankruptcy Law. Anyone who needs to assess his position in an existing procedure can consult a lawyer who specializes in bankruptcy and commercial cases.
Practical example
The period for submitting claims has ended in the financial reorganization procedure of a small restaurant in Makkah. The restaurant owner, with the trustee's help, has 30 days to prepare the proposal. If it turns out that collecting the suppliers' data needs more time, the trustee may ask the court for an extension, and it may extend by no more than 30 days.
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 64 of the Saudi Implementing Regulations of the Bankruptcy Law
How long is the period to prepare a financial reorganization proposal for small debtors?
30 days from the end of the period for submitting claims.
Can the period to prepare the proposal be extended?
Yes. The court may extend it at the trustee's request by no more than 30 days.
Does the trustee prepare the proposal instead of the debtor?
No. The small debtor prepares the proposal, and the trustee helps it.
More articles on Small Debtor Bankruptcy Procedures
- 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 57
This article regulates a small debtor's request to terminate its contracts in preventive settlement for small debtors: its timing, the trustee's report and notice to the contracting party.
1 - على المدين الصغير الذي يرغب في إنهاء أي من العقود التي يكون طرفاً فيها تقديم طلب الإنهاء إلى المحكمة بعد إيداع قرار افتتاح إجراء التسوية الوقائية لصغار المد
- Article 58
This article requires the small debtor to notify the creditors identified in the proposal of the voting date, with a copy of the proposal or evidence that it is available electronically.
يبلغ المدين الصغير الدائنين المحددين في المقترح بموعد التصويت عليه، ويرفق بالتبليغ نسخة من المقترح أو ما يفيد بإتاحة الاطلاع عليه بأي من الوسائل الإلكترونية الت
- Article 59
This article requires the small debtor to attach the information and documents specified for that purpose to the request for a stay of claims.
على المدين الصغير أن يرفق بطلب تعليق المطالبات المعلومات والوثائق المحددة لذلك.
- Article 60
This article requires the small debtor to file the decision approving a stay of claims or extending it with the Bankruptcy Register as soon as it is issued, and to announce it within 5 days.
1 - على المدين الصغير فور إصدار المحكمة قراراً بالموافقة على طلب تعليق المطالبات أو تمديده, إيداع القرار لدى سجل الإفلاس. 2 - يعلن المدين الصغير قرار المحكمة با
- Article 61
This article requires the small debtor to file with the Bankruptcy Register, within 5 days, what proves that the result of the vote was filed with the court, and to announce that the plan has taken effect within 5 days.
على المدين الصغير خلال (خمسة) أيام من انتهاء تصويت الدائنين على المقترح أن يودع لدى سجل الإفلاس ما يثبت إيداع نتيجة التصويت لدى المحكمة، وعليه أن يعلن عن نفاذ 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.