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Article (153) Conduct of the Liquidation

Subject to the provisions of Article (149) of this law, the liquidator shall carry out the following:

(1) Submit his proposals for the conduct of liquidation to the Competent Court. These proposals shall be notified to all creditors and shareholders of the Licensee, and any other interested parties.
(2) Comply by orders of the Competent Court in relation to publication of such proposals.

Any creditor or shareholder of the Licensee in liquidation or any other interested parties may, within a period of thirty days as from the date they were notified of the proposals, challenge such proposals before the Competent Court.

The Competent Court may upon receiving such challenge in accordance with this Article, make amendments to the liquidator's proposals as it deems fit.