Distribution of the bankrupt's assets among the creditors
Machine translationRead the Arabic original
Question:
Honorable Shaykh, a man is in debt, and he owes a sum of seven hundred thousand riyals. After his assets were liquidated, they amounted to four hundred thousand riyals. How are they distributed among the creditors? Are the creditors obligated to accept a two-thirds share? And what is the ruling if his brother dies?
Answer:
This is referred to the court. The court tallies his debts and tallies what he has, and then distributes the company’s assets among all the creditors according to the share each one receives from it. This is required of the court.
Honorable Shaykh, a man is in debt, and he owes a sum of seven hundred thousand riyals. After his assets were liquidated, they amounted to four hundred thousand riyals. How are they distributed among the creditors? Are the creditors obligated to accept a two-thirds share? And what is the ruling if his brother dies?
Answer:
This is referred to the court. The court tallies his debts and tallies what he has, and then distributes the company’s assets among all the creditors according to the share each one receives from it. This is required of the court.
Source
شرح بلوغ المرام من أدلة الأحكام [ صالح الفوزان ]، بداية من باب الصلح — islamhouse.com (2:10)
The Arabic text is a machine transcription of the audio recording.