Article 89 of the Saudi Bankruptcy Law

المادة 89 من نظام الإفلاس · الفصل الرابع: إجراء إعادة التنظيم المالي: إنهاء الإجراء

The trustee must file the judgment ending the financial restructuring in the bankruptcy register, which ends the trustee's duties, and the Implementing Regulations specify what it does with the information and documents it holds.

Official text (Arabic)

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

1- يلتزم الأمين بإيداع حكم المحكمة بإنهاء إجراء إعادة التنظيم المالي في سجل الإفلاس، ويترتب على ذلك انتهاء مهماته.

2- تحدد اللائحة ما يجب على الأمين اتخاذه حيال المعلومات والوثائق التي بحوزته والمتعلقة بالإجراء.

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 89 explained in plain English

This article governs the closing step of the trustee's role in the financial restructuring procedure after the court issues its judgment ending it:

Filing in the bankruptcy register: The trustee must file the court's judgment ending the procedure in the bankruptcy register.
End of the trustee's duties: This filing ends the trustee's duties; the text ties the end of its duties to the filing.
Information and documents: The Implementing Regulations specify what the trustee must do with the information and documents it holds that relate to the procedure.

The article sets no deadline for the filing, and does not itself state what the trustee does with the documents, but refers that to the Implementing Regulations.

This article is connected to Article 88, which provides that a judgment ending the procedure does not relieve the guarantor of the plan's implementation of its obligations, and does not oblige any creditor to return what it received from the debtor before the ending. It is also connected to Article 90, which allows the court, on its own motion or at the request of an interested party, to open a liquidation or administrative liquidation procedure if the debtor is distressed or bankrupt, the conditions for the procedure to be opened are met, and the ending of the financial restructuring was based on paragraph (c), (d), (e), (f) or (g) of Article 87.

Anyone who needs to know the effect of the procedure ending on them, whether as a creditor or a debtor, can 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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