Article 72 of the Saudi Implementing Regulations of the Bankruptcy Law

This article of the Regulations deals with what happens when the administrative liquidation procedure ends, and contains two rulings:

First: filing on ending

• The Bankruptcy Committee files with the court the decision ending the procedure, accompanied by the information and documents specified for that purpose. Under Article 1 of the Regulations, the information and documents are those specified by the Bankruptcy Committee in coordination with the Ministry of Justice.
• It files with the Bankruptcy Register and the Commercial Register what shows that the procedure has ended within 5 days of the date it ended.

Second: removing the debtor's name from the Bankruptcy Register

Paragraph 2 refers to the ruling on removing the debtor's name from the Bankruptcy Register provided for in paragraph 5 of Article 179 of the Bankruptcy Law, and limits this ruling to a debtor who is a natural person, that is, an individual, and no one else. So this ruling does not extend to a debtor who does not have this capacity.

The article follows Article 71, which regulates the order of distributing the proceeds of selling the assets, so it is the close of the administrative liquidation provisions in this chapter.

This article does not state the conditions or timing of removal, which should be consulted in Article 179 of the Law. Anyone who wants to know the effect of ending the procedure on his position in the Register should consult a lawyer who specializes in bankruptcy and commercial cases.