SACC 7/2022
Type
Case
Court
Saudi Arabia Commercial Court
Jurisdiction
Saudi Arabia
Taxonomy
Enforcement of Judgments, Companies & Corporate Bodies, Bankruptcy
Decision date
12 Jan 2022
Catchwords
Bankruptcy - Limited Company - Payment Order - Debt - Default
Background
An attorney for a law firm filed a request to initiate liquidation proceedings for a contracting company. The law firm had entered into a contract with the contracting company but it had failed to meet its obligations. They then filed a case with the General Court of Mecca which issued a judgment requesting the contracting company pay an amount but they had failed to do so. This was a limited company which had failed to settle an outstanding debt.
Decision
Bankruptcy proceedings were initiated and a bankruptcy trustee was appointed.