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Small Debtors' Protective Settlement Procedure
A procedure that aims to facilitate reaching an agreement between the debtor and his/her creditors to settle the debts within a reasonable period and through low cost and highly efficient simple procedures while maintaining the debtor's ability to manage his/her business.​​

General Considerations:

  • The small debtor can issue a procedure commencement decision and deposits it at the Bankruptcy Register. The decision shall be effective from the deposit date. The debtor may not apply for the commencement of the procedure to the competent court.
  • The total debts shall not exceed (2 million) Saudi riyals.
  • There is a chance for the debtor to resume his/her business activities and generate better returns.
  • The debtor may maintain the management of his/her business as well as managing the procedure.
  • A small debtor may apply for the commencement of a Protective Settlement Procedure instead of the Small Debtors' Protective Settlement Procedure. ​​


    Small Debtors' Protective Settlement Procedure - Journey
     
    Small Debtors' Protective Settlement Procedure - By Debtor