1. The words and terms contained in this Regulation shall have the meanings specified next to each of them in Article (1) of the Bankruptcy Law, issued by Royal Decree No. (M/50) dated 28/5/1439 AH, and Article (1) of the Implementing Regulation of the Bankruptcy Law, issued by Council of Ministers Resolution No. (622) dated 24/12/1439 AH.
2. The term "Claim" wherever it appears in this Regulation refers to the claim stipulated for submission in the Bankruptcy Law and its Implementing Regulation, accompanied by the required information and documents.

The petition for any claim must include the data and attachments required for the litigation procedures before the commercial courts for both the applicant and the debtor.

• The petition for any claim must include the following:

  • A. The type of claim and the reason for its submission.

  • B. The type of bankruptcy procedure.

  • C. The ruling or decision to initiate the procedure, if available.

  • D. The details of the appointed or proposed trustee, if available.

• The request to initiate any Bankruptcy procedures submitted by the Debtor must be accompanied by the following:

  • A. A summary of the activity, and a copy of the license to practice it, if available.

  • B. Evidence proving that the Debtor is bankrupt, in distress, or at risk of distress.

  • C. Financial information of the Debtor, which must include the following:

    • 1. A summary of the financial situation of the Debtor during the (twenty-four) months preceding this request, and the economic impacts on it.

    • 2. Financial statements if the Debtor is a legal entity, and a statement of the financial position if the Debtor is a natural person, for a period of at least (twelve) months ending no more than one month before the submission of this request.

    • 3. Projections of future cash flows for a period of at least (twelve) months from the date of submitting this request.

  • D. A list of debts owed by the Debtor, which must include the following:

    • 1. The value of each debt, its origin, and the due date for payment.

    • 2. The name of each creditor, their identification number or commercial registration, address, and contact details.

    • 3. A statement of secured debts and the type of security.

  • E. A list of the Debtor's assets, along with an estimate of their total value.

  • F. Information about the employees of the Debtor, and their total monthly wages.

  • G. A decision from the competent authority approving the registration of the request to initiate Bankruptcy proceedings for the Debtor, if it is an organized entity, or evidence of the submission of the request for approval and the passage of the specified period without a decision being issued in accordance with the provisions of paragraph (3) of Article (3) of the Law.

  • H. A statement of lawsuits, judicial procedures, judgments, and executive instruments related to the Debtor.

• Any request to initiate any bankruptcy proceedings submitted by the creditor must be accompanied by the following:

  • A. A detailed statement of the debt owed to the debtor, including its value, origin, due date, and payment status.

  • B. Evidence that the debtor is bankrupt, insolvent, or at risk of insolvency.

  • C. A decision approving the competent authority's registration of the request to initiate bankruptcy proceedings, if the debtor is an organized entity, or evidence of the submission of the approval request and the passage of the specified period without a decision being issued in accordance with the provisions of paragraph (3) of Article (3) of the law.

• Any application for the initiation of any Bankruptcy procedures, submitted by the competent authority, must be accompanied by the following:

  • A. The legal document establishing the debtor as an organized entity subject to its supervision.

  • B. Evidence proving that the debtor is bankrupt, in distress, or at risk of distress.

• Subject to the provisions of Article (4) of this Regulation, the claim for the initiation of preventive settlement proceedings submitted by the debtor must be accompanied by the following:

  • A. A declaration from the debtor stating that they have not been subject to preventive settlement proceedings or preventive settlement proceedings for small debtors during the twelve (12) months preceding this claim, along with a certificate from the bankruptcy register to that effect.

  • B. The proposal, endorsed by a trustee listed in the list of trustees, confirming that it meets the required information and documents.

In consideration of what is stated in Article (4) of this Regulation, the request to initiate the financial reorganization procedure, submitted by the Debtor, must be accompanied by a declaration from the Debtor stating that they have not been subject to a financial reorganization procedure or a financial reorganization procedure for small debtors during the twelve (12) months preceding this request, along with a statement from the bankruptcy register to that effect.