Skip to content
Qanoon
Sign in

Article 217 of the Saudi Bankruptcy Law

المادة 217 من نظام الإفلاس · الفصل الخامس عشر: حق الاعتراض على الأحكام والقرارات: حق الاعتراض

The article lists the judgments and decisions that any interested party may object to before the court of appeal, and sets the objection period at 14 days where there is no special provision.

Official text (Arabic)

This article has not been amended since the law was issued.

1- يجوز لكل ذي مصلحة الاعتراض أمام محكمة الاستئناف على حكم المحكمة أو قرارها إذا كان موضوع الحكم أو القرار أيا مما يأتي:

أ- رفض افتتاح إجراء التسوية الوقائية أو إجراء إعادة التنظيم المالي.

ب- افتتاح إجراء التصفية أو إجراء التصفية لصغار المدينين أو إجراء التصفية الإدارية أو رفض افتتاح أي منها.

ج- إنهاء أو عدم إنهاء أي من إجراءات الإفلاس.

د- استمرار عقد المتعاقد أو إنهاؤه.

هـ- اتخاذ أي من الإجراءات التحفظية السابقة لافتتاح إجراء التصفية أو إجراء التصفية لصغار المدينين.

و- إدراج أو عدم إدراج مطالبة أو جزء منها في قائمة المطالبات.

ز- تصنيف الدائنين والتصويت على المقترح وإجراءاته ونتيجته.

ح- استرداد الأصول وتعويض المتضررين نتيجة التصرف بها.

ط- التصديق أو عدم التصديق على المقترح.

ي- تعيين الأمناء والخبراء وعزلهم واعتزالهم وأتعابهم وتنفيذ مهماتهم وصلاحياتهم.

ك- إيقاع العقوبات المنصوص عليها في النظام.

ل- ترتيبات الضمانات والمقاصة المرتبطة بالمعاملات المالية.

م- المقاصة.

ن- بيع الأصول والتوزيع على الدائنين.

س- تغيير أي حق في الضمانات المقدمة للدائنين.

ع- احتفاظ المدين بما يوفر له ولمن يعولهم ما يكفي لمعيشة بالمعروف.

ف- تنفيذ أو عدم تنفيذ الخطة.

ص- تشكيل لجنة الدائنين.

ق- ما تحدده اللائحة.

2- فيما لم يرد فيه نص خاص، يجب على المعترض تقديم اعتراضه خلال (أربعة عشر) يوماً من تاريخ إصدار الحكم أو اتخاذ القرار أو الإعلان عن أي منهما أيهم أسبق. وإذا تبلغ المعترض بالحكم أو القرار محل الاعتراض قبل الإعلان فيجب تقديم اعتراضه خلال (أربعة عشر) يوماً من تاريخ التبلغ به.

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 217 explained in plain English

This article sets out when an objection may be made before the court of appeal to a judgment or decision of the court in bankruptcy procedures. Not every judgment qualifies; only judgments and decisions whose subject is one of the following, among them:

  • Refusing to open the protective settlement or financial reorganization procedure.
  • Opening the liquidation, liquidation for small debtors or administrative liquidation procedure, or refusing to open any of them.
  • Ending or not ending any of the bankruptcy procedures.
  • Continuing or terminating a counterparty's contract, and the precautionary measures that precede the opening of liquidation.
  • Including or not including a claim or part of it in the list of claims, classifying creditors and voting on the proposal, and ratifying it or not.
  • Recovering assets and compensating those harmed, selling assets and distributing to creditors, set-off, collateral and netting arrangements tied to financial dealings, and changing rights in security.
  • Appointing, dismissing and paying trustees and experts, imposing penalties, the debtor keeping what is enough for a decent living for himself and his dependents, carrying out or not carrying out the plan, and forming the creditors' committee.
  • What the Implementing Regulations specify.

The time limit: where there is no special provision, the objection is filed within 14 days from the date the judgment was issued, the decision was taken, or either was announced, whichever is earlier. If the objector was notified of the judgment or decision before the announcement, the period runs from the date of his notification.

Article 216 refers to this article, since it makes the court's judgment on objections to Bankruptcy Committee decisions final subject to its provision. Article 218 explains how the court of appeal decides on the objection. For an assessment of a specific situation, consult a lawyer specializing in bankruptcy and commercial cases.

Practical example

The court ruled to open the liquidation procedure for a contracting company in Jeddah, and the judgment was announced a few days after it was issued. The company believes the judgment is wrong, so it may object before the court of appeal within 14 days counted from the date the judgment was issued, because that is earlier than the announcement, unless a special provision sets another period.

Translated from our Arabic explanation with machine assistance. For guidance only; it does not replace advice from a lawyer on your situation.

How we write and review content

A question about Article 217 of Bankruptcy Law?

Describe what happened and specialist lawyers answer. You can write in English.

  • Completely free
  • Lawyers from the directory answer
  • Your name stays hidden
Ask a lawyer for free

Commercial & Corporate Law lawyers: ask a specialist about your case

Describe your situation briefly and we'll suggest a lawyer who specialises in this law

Commercial & Corporate Law lawyers

Lawyers who handle this kind of case

See all lawyers

Frequently asked questions about Article 217 of the Saudi Bankruptcy Law

Can a judgment opening liquidation be appealed?

Yes. Opening the liquidation procedure is among the subjects that may be objected to before the court of appeal.

How long is the period to object before the court of appeal in bankruptcy?

14 days from the date the judgment was issued, the decision was taken, or either was announced, whichever is earlier, where there is no special provision.

When does the period start if I was notified of the judgment before it was announced?

It starts from the date you were notified of the judgment or decision.

Who may object before the court of appeal?

Any interested party.

More articles on Creditors' Rights in Bankruptcy

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.