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  1. The application for Protective Composition filed with the Court by debtors shall set out the reasons for the application, and be accompanied by the following documents:
  1. Memorandum including a brief summary of the economic and financial position of the Debtor together with information about the Debtor’s Assets and detailed statements of the Debtor’s
  2. Certified copy of the commercial, industrial or professional license and the commercial or professional register of the Debtor issued by the competent licensing authority in the
  3. Copy of the accounting books or financial statements relating to the Debtor’s Business for the financial year preceding the filing of the
  4. A report including the following:
    1. The cash flow, profit and loss projections of the Debtor for the (12) twelve months following the filing of the
    2. A statement of the names and addresses of the known creditors and debtors and the amounts of their respective entitlements or debts and any securities provided.
    3. Detailed statement of the Debtor’s Assets – movable and immovable, and the approximate value of each as at the date of filing the application, along with a statement of any securities or rights of third parties against
  5. Proposals for the Protective Composition Procedure and the security for the implementation thereof.
  6. Nomination by the Debtor of a trustee to undertake the procedures pursuant to the provisions of this
  7. If the applicant is a company, the application shall be accompanied by a copy of the resolution of the company’s competent authority approving the application for Protective Composition, and copies of the incorporation documents, and any amendments thereto, as filed with the competent licensing authority in the
  8. A report issued by the competent Credit Bureau Authority in the
  9. Any other documents in support of the application
  1. If the applicant is unable to submit any of the details or documents required the applicant shall specify in the application the reasons for such

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The entire contents of this article is solely for information purpose and have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation.. It doesn't constitute professional advice or a formal recommendation. The author has undertook utmost care to disseminate the true and correct view and doesn't accept liability for any errors or omissions. You are kindly requested to verify & confirm the updates from the genuine sources before acting on any of the information's provided herein above.

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