Article 36 of the Saudi Bankruptcy Law

المادة 36 من نظام الإفلاس · الفصل الثالث: إجراء التسوية الوقائية: التبليغ والإيداع

As soon as the court approves the proposal, the debtor must notify the creditors of the approval and file a copy of it in the bankruptcy register within 5 days at most.

Official text (Arabic)

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

على المدين فور تصديق المحكمة على المقترح تبليغ الدائنين بالتصديق، وإيداع نسخة منه في سجل الإفلاس خلال مدة لا تزيد على (خمسة) أيام من تاريخ تصديق المحكمة.

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 36 explained in plain English

This article imposes two duties on the debtor after the court approves the protective settlement proposal:

Notifying the creditors of the approval as soon as it is issued.
Filing a copy of the approval in the bankruptcy register within no more than 5 days of the date of the court's approval.

The purpose is to inform creditors that the proposal has been approved, and to make it known through the bankruptcy register. The party responsible for these two things is the debtor itself, not the court or the creditors.

This duty is linked to the fairness criteria set out in Article 35 for the settlement proposal, and to Article 37, which provides that the plan binds the debtor, the creditors and the owners, and that the debtor must complete the procedures required by the relevant laws.

Note that the 5-day period runs from the date of the court's approval, not from the date the debtor learns of it or notifies the creditors. This article does not address the effect of delay in filing.

To understand what follows from this duty in a particular case, it is advisable to 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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