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Financial Restructuring Procedure

Commission Members

A procedure that aims to facilitate reaching an agreement between the debtor and his/her creditors to financially restructure his/her business activity under the supervision of the financial restructuring officeholder.

General Considerations:

  • The debtor or creditor may apply to the court for the commencement of the procedure.
  • The total debt exceeds (2 million) Saudi Riyals.
  • There is a chance for the debtor to resume his/her business activities and generate better returns.
  • The debtor manages his/her business activities under the supervision of the officeholder. The officeholder shall supervise the procedure too.​​