Based upon the principle of participation and transparency, the Ministry of Commerce and Investment invites the interested parties and the public to express their views and opinions on the proposal of the Implementing Regulations of the Insolvency Law, through the website (insolvencylaw@mci.gov.sa), deadline Wednesday, 09.09.1439 AH corresponding to 24. 05.2018.
MCI would like to explain that the proposal of the said implementing regulations includes the executive provisions of the articles of the relevant law, the most prominent of which are: The provisions relating to insolvency procedures, such as the preventive settlement, the financial restructuring and the liquidation procedures, the procedures for small debtors, provisions for mutual debts and clearing, securities provisions and the arrangements related to financial transactions, the priority of debts and the provisions of the insolvency and discharge register. The proposal also includes the provisions of trustees and experts. It does also contain the regulations and rules of creditors committee, as well as its functions and meetings.
MCI would like to call on those interested and the public to express their opinions and views on the said proposal as per the specified form. The proposal and the relevant form can be accessed through the following link:
Click here.