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Small Debtors' Financial Restructuring Procedure
A procedure that aims to facilitate reaching an agreement between the small debtor and his creditors to financially restructure his business within a reasonable period and through simple measures with low cost and high efficiency under the officeholder's supervision.

General Considerations:

  • The small debtor issues the decision of commencing the procedure after agreeing with one of the listed officeholders, the decision is valid after the Judicial Depository.  
  • The creditor may apply to the court for the commencement of the procedure.
  • The total debt 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 small debtor may manage his/her business activities under the supervision of the officeholder.
  • The small debtor or creditor may apply for the commencement of a Financial Restructuring Procedure instead of the Small Debtors' Financial Restructuring Procedure.​​


    Small Debtors' Financial Restructuring Procedure - Journey
     
    Small Debtors' Financial Restructuring Procedure - By Creditor
     
    Small Debtors' Financial Restructuring Procedure - By Officeholder