A claimant company submitted a request for financial and administrative restructuring and protection against bankruptcy because it was unable to operate business as usual due to the closure of some of its bank accounts as a result of claims brought against the company and the delays in paying its debts.

The court said that Article 43 of Saudi Arabia Cabinet Decision No. 264/1439 stated that a request for starting financial restructuring procedures may be recorded with the court once it was submitted with the relevant information and documentation.

Article 5 of the Information and Documentation Regulation outlined the documents that must be submitted with requests for any bankruptcy procedure. The documents of the case showed that the request did not includes the documents outlined by that article. The claimant company had not mentioned the reasons of the debt and failed to provide enough information to confirm the correctness of its claims. It also did not substantiate the claims and rulings issued by the courts against it.