Based on the principle of participation and transparency, the Ministry of Commerce and Investment calls on those interested and the public to express their views and suggestions regarding the proposal of meeting rules, relevant to insolvency procedures, through the following email: (insolvencylaw@mci.gov.sa), deadline 18/11/1440 H, corresponding to 21 / 07/2019.
MCI has explained that the insolvency draft law aims at organizing the meetings relevant to insolvency proceedings. This is to facilitate holding the meetings and making the necessary voting, according to clear and specific mechanisms. This proposal includes organizing four meetings for insolvency proceedings, as follows: Meeting of the Creditor Committee, Meeting of creditors in relation to the liquidation proceedings, held under the article (108 of the said Law), also the voting meeting on the proposal, and the meeting of the heirs of the deceased person and the relevant creditors. This proposal aims at organizing, holding and managing the meetings, and the necessary data to be available in the minutes of the meeting, as well as the mechanisms for filing and submitting the minutes of the meeting.
MCI would like to call on those interested and the public to participate and to express their opinions and views on the proposal of insolvency law, as per the specified form.
•
To view the proposal on the rules for managing the meetings, relevant to insolvency proceedings, please
click here.