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DECLARING THE BANKRUPTCY OF THE DECEASED IN ARAB LAWS

Journal: International Journal of Advanced Research (Vol.12, No. 01)

Publication Date:

Authors : ;

Page : 1309-1313

Keywords : Declaration Bankruptcy Merchant Dead Arab Laws;

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Abstract

A bankruptcy lawsuit is a procedural lawsuit to prove that a merchant has stopped paying a commercial debt due to a disturbance in his financial position, which exposes his creditors to danger, and to seize all his money in preparation for selling it to pay off the creditors debts. Therefore, it has economic and social effects. However, it guarantees the rights of creditors, even if the original is to declare the bankruptcy of the merchant who is unable to pay his debts. However, the question is: Is it permissible to file a bankruptcy lawsuit against the bankrupt merchant who is dead? Therefore, this study aimed to identify the legal procedures for declaring a deceased merchant bankrupt in Arab legislation. The study used the comparative descriptive analytical approach by tracking and analyzing the rules for declaring a dead merchant bankrupt. The most important recommendation is the necessity of presenting the judicial precedents related to the subject of the study to benefit from them.

Last modified: 2024-02-24 16:33:38