10 advantages of the law of insolvency cases .. and the executive regulation soon

10 advantages of the law of insolvency cases .. and the executive regulation soon

Reda Mosallam, partner and general manager of Truth Economic and Management Consultancy, said that the issuance of the law came at an important time to contribute to create a state of legislative integration to attract investments and to achieve a safe environment for capital.

He added that the law will apply to the natural person who does not engage in economic activity and is not considered in the merchant category, and thus will protect the debtor from any legal prosecution, and denies the criminal status of financial obligations of the insolvent person, and gives them an opportunity to work and productivity.

And regarding those who have been sentenced in cases of default, Muslim said that this order will depend on what will be stipulated in the executive regulations of the law, If issued retroactively, those who have been sentenced will be reconsidered, but he expected the law to be enforced as of January, with the majority of state courts postponing these cases and not adjudicating them until the law is officially passed.

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