Background

A group of shareholders filed a case before the Court of First Instance against the company directors requesting the court place seals on their trade and money and prevent them from leaving the country until the matter was resolved and to declare their bankruptcy because they owed 233340 Egyptian Pounds as result of bounced cheques.

The Court issued a ruling in absentia declaring the defendants' bankruptcy. The defendants opposed the ruling and requested the court to stop it until the resolution of this objection. The shareholders filed a counterclaim requesting the refusal of the objection and to confirm the ruling.

The court dismissed the ruling and rejected the case.

The shareholders filed an appeal and the court of appeal dismissed the appealed ruling and confirmed the Court of First Instance ruling in absentia.

Decision