SACC 8/1443
This case involved a request by a creditor for liquidation of a company. The creditor had not provided sufficient detail or proof they were a creditor of the company.
Background
A claimant filed a request to the court to initiate liquidation proceedings against the defendant company, as they had not received a debt owed to them. They said that the company was unable to repay the debts and was not currently engaged in any commercial activities.
The court said that Article 3 and. 5 of Saudi Arabia Cabinet Decision No. 622/1439 stipulated that the application must include a statement of the type of request, the reason for its submission, the type of bankruptcy proceedings, and the judgment or decision to initiate the proceedings, if any, as well as a detailed statement of the debt owed by the debtor.
Decision
The court said that the case documents revealed that the request submitted by the claimant lacked the details. The court said that the claimant had not provided sufficient proof of being a creditor of the defendant in this case.
The court dismissed the request.