Thee representative of a Trading and Contracting Company applied to the Commercial Court for the initiation of administrative liquidation proceedings for the company.

The applicant had not fulfilled the requirements of Article 5 (a), (b), (c), and (d) of Saudi Arabia Cabinet Decision No. 264/1439 , nor had he complied with the provisions of Article 12 of Saudi Arabia Cabinet Decision No. 264/1439 , as he did not provide evidence that the proceeds from the sale of the insolvent assets were insufficient to cover the liquidation expenses. Therefore, in accordance with Article 170 of Saudi Arabia Cabinet Decision No. 264/1439 , the court decided to reject the application due to the failure to meet the statutory requirements.

The court rejected a company's request for the initiation of administrative liquidation proceedings due to the applicant's failure to meet the statutory requirements, including providing evidence that the proceeds from asset sales were insufficient to cover liquidation expenses.