A debtor submitted a request to the court to determine another deadline for voting on a new proposal because the first proposal had been rejected by 99.9 per cent of creditors for all the groups.

They wanted to start financial restructuring of the debtor.

The court said that Article 80 of Saudi Arabia Cabinet Decision No. 264/1439 stated that the court could, based on a request by the trustee, ratify a proposal which fulfilled the relevant requirements in certain cases including if all the categories of creditors have accept the proposal or if one category approved the proposal and other voting creditors who had claims worth at least 50% of the total value of the claims of all categories of creditors voted in approval of the proposal and the court found that the proposal to be in the interest of most of the creditors.

The documents showed only 1.1 percent of the voters voted yes on this proposal which was less than the stipulated percentage to accept a proposal.