Article 105 of the Saudi Bankruptcy Law
المادة 105 من نظام الإفلاس · الفصل الخامس: إجراء التصفية: بيع الأصول
The article provides that the court determines which bankruptcy estate assets must be advertised before they are sold, as the Implementing Regulations specify.
Official text (Arabic)
This article has not been amended since the law was issued.
تحدد المحكمة أصول التفليسة التي يجب الإعلان عنها قبل بيعها وفقاً لما تحدده اللائحة.
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 105 explained in plain English
This article concerns advance advertising of the sale of bankruptcy estate assets. Not every asset has to be advertised before sale; rather, the court determines the assets that must be advertised.
Elements of the provision:
- Decision-maker: The court.
- Subject: Determining the bankruptcy estate assets that must be advertised before they are sold.
- Controls: As the Implementing Regulations specify.
The article does not set out the criteria for choosing these assets or the method or duration of the advertisement, but refers them to the Implementing Regulations, which must be consulted for the details.
The role of this article is understood in the context of the provisions around it. Article 104 gives the trustee the power to take what it considers appropriate to sell the assets at the best possible price, including selling them all at once, and this article gives the court a say in the assets that are advertised before sale. Article 106 after it requires the trustee, if it intends to sell an asset whose value exceeds a quarter of the value of the bankruptcy estate assets, to call the creditors to vote or to notify the creditors' committee if there is one.
To assess a particular situation, consult a lawyer specializing in bankruptcy and commercial cases.
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 105 of the Saudi Bankruptcy Law
Who decides which assets are advertised before sale in liquidation?
The court, as the Implementing Regulations specify.
Must all of a bankrupt's assets be advertised before they are sold?
The article does not make advertising cover all assets. The court determines the assets that must be advertised, as the Implementing Regulations specify.
More articles on Liquidation of the Debtor's Assets
- Article 7
Article 7 bars the liquidation of any person under another law unless its assets cover all its debts and it is not defaulting, and makes management members jointly liable if this is violated.
1- مع مراعاة ما ورد في المادة (الرابعة) من النظام، لا يصفى أي شخص بموجب نظام آخر إلا إذا كانت أصوله تكفي لسداد جميع ديونه وكان غير متعثر. 2- إذا تم حل المدين وت
- Article 69
The debtor continues to manage its business during financial reorganization under the trustee's supervision, and at the trustee's request the court may remove its control in cases of negligence, mismanagement or criminal acts.
1- دون إخلال بصلاحيات ومهمات الأمين، يستمر المدين في إدارة أعماله ونشاطه خلال فترة إجراء إعادة التنظيم المالي تحت إشراف الأمين. 2- إذا ارتكب المدين أو أحد المسؤ
- Article 90
The court opens liquidation or administrative liquidation after financial restructuring ends if the debtor is distressed or bankrupt, the procedure's conditions are met, and the ending was for specified grounds.
تقضي المحكمة -من تلقاء نفسها أو بناء على طلب من ذي مصلحة- بافتتاح إجراء التصفية أو التصفية الإدارية إذا تحققت الشروط الآتية: أ - أن يكون المدين متعثراً أو مفلسا
- Article 92
The article allows the debtor, a creditor or the competent authority to ask the court to open the liquidation procedure if the debtor is distressed or bankrupt.
دون الإخلال بأحكام الأنظمة ذات العلاقة، للمدين أو الدائن أو الجهة المختصة التقدم إلى المحكمة بطلب افتتاح إجراء التصفية للمدين إذا كان المدين متعثراً أو مفلساً.
- Article 93
The article requires that a liquidation request be accompanied by the information and documents the Implementing Regulations specify to be registered, and sets special conditions where one or more creditors file it.
1- يشترط لقيد طلب افتتاح إجراء التصفية لدى المحكمة أن يقدم الطلب مرافقاً له المعلومات والوثائق ذات العلاقة، وفقاً لما تحدده اللائحة. 2- لا يقيد طلب دائن أو أكثر
- Article 94
A creditor's request to open liquidation is not registered if the debtor disputed the debt before the request, and filing it despite proof of the dispute is an abuse of the procedure.
لا يقيد طلب الدائن بافتتاح إجراء التصفية إذا كان المدين قد نازع الدائن في الدين قبل تقدم الدائن بالطلب. ويعد طلب الدائن افتتاح الإجراء مع وجود ما يثبت منازعة ال
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.