5. Bank Account Statements for a Period of Ten Years
| No: 42066419 | Date(g): 1/5/2021 | Date(h): 20/9/1442 | Status: In-Force |
Translated Document
Effective from 2021-05-01 - Apr 30 2021
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| 5.1 | The trustee or the committee—depending on the circumstances—shall be provided with the bank account statements of the debtor subject to one of the bankruptcy procedures specified in paragraph (3.1), after fulfilling the decision of the competent court containing any of the following: | ||
| A. | The initiation of liquidation or liquidation for small debtors for the natural or legal person and the appointment of a single trustee. | ||
| B. | The initiation of liquidation or liquidation for small debtors and the appointment of multiple trustees, specifying their duties and powers, including the request for bank account statements. | ||
| C. | The initiation of administrative liquidation and the appointment of the Bankruptcy Committee to manage the procedure. | ||
| D. | The suspension of the debtor’s authority and the appointment of the trustee to manage activities during financial reorganization proceedings. | ||