2016م - 1444هـ
Agreement for operation of debtor’s business by creditors’ committee.



Debtor is now engaged in the _________ business in _________ and in the conduct of that

business has incurred and now owes various sums of money to committee and other

creditors, which debtor is unable to pay currently as demanded; and At a meeting of

committee and other creditors of debtor held at the office of debtor in _________ on

_________[date], (at which meeting creditors whose claims aggregate more than _____%

of debtor's whole indebtedness were present or represented), his [her] affairs were

discussed and fully considered, and it was unanimously agreed by those present that it

would be for the best interest of all creditors to operate debtor's business under the

supervision of a creditor's committee, and at the meeting committee was named to act as

the committee on the conditions set forth in this agreement; and Debtor also being present

at the meeting agreed to the arrangement and further agreed to transfer to committee, the

parcels of real estate more particularly described below: