Bankruptcy Requests – Abdulrahman Abdulaziz Al-Zahrani Law Office

If your company faces circumstances that prevent it from fulfilling its financial obligations, you may need a specialized lawyer to file bankruptcy requests. Our office handles all necessary procedures, including the liquidation of assets and bank accounts, and provides a clear plan for settling obligations while protecting your legal rights.

What Is Bankruptcy in Commercial Law?

Bankruptcy occurs when a business owner or company cannot pay its debts. It requires asset liquidation and fair distribution among creditors according to Saudi commercial law. Our office provides specialized bankruptcy services through experienced lawyers to ensure full legal protection.

Saudi bankruptcy law applies to local companies, foreign investors, entrepreneurs, professionals, and merchants.

Abdulrahman Abdulaziz Al-Zahrani Law Office offers professional bankruptcy filing and registration with commercial courts, safeguarding the rights of both debtors and creditors.

Key Terms

  • Law: Saudi Bankruptcy Law

  • Court: Competent Commercial Court

  • Debtor: Person with a verified debt

  • Creditor: Person entitled to receive payment

  • Debt: Financial obligation of the debtor

  • Defaulting Debtor: Fails to pay on the due date

  • Bankrupt: Debtor whose debts exceed all assets

  • Bankruptcy Trustee: Appointed by the court to execute procedures

  • Assets: Movable, immovable, intellectual property, and financial rights

Types of Bankruptcy

  1. Genuine Bankruptcy: Due to unavoidable losses, with organized accounts.

  2. Negligent Bankruptcy: Due to mismanagement or overspending, even with organized accounts.

  3. Fraudulent Bankruptcy: Involving deception or unlawful practices in business.

Objectives of the Saudi Bankruptcy System

  • Balance between creditor rights and investor interests

  • Enable bankrupt companies to resume operations

  • Maintain market confidence

  • Protect the national economy

Our Services

  • Legal consultation on bankruptcy cases

  • Filing bankruptcy requests with commercial courts

  • Debt collection from defaulters

  • Following and executing liquidation procedures

  • Representation in competent courts

Procedures include: preventive settlement, financial reorganization, liquidation, administrative liquidation, small debtor procedures, and small debtor reorganization.

Importance of Hiring a Specialized Lawyer

A specialized bankruptcy lawyer ensures:

  • Accurate legal advice

  • Correct filing procedures

  • Minimization of legal risks

  • Protection of your rights and creditors’ rights

  • Overcoming obstacles with optimal legal solutions