Review article
https://doi.org/10.22598/iele.2025.12.1.11
CREDITORS IN INSOLVENCY PROCEEDINGS IN JORDANIAN LEGISLATION: THE INSOLVENCY AGENT’S LEGAL REGULATION
Ruba Hmaidan
orcid.org/0009-0007-3793-5319
; Faculty of Law, Applied Science Private University, Amman, Jordan,
*
Tareq Al-Billeh
orcid.org/0000-0001-7171-6004
; Faculty of Law, Applied Science Private University, Amman, Jordan,
Ali Al-Hammouri
orcid.org/0000-0002-6187-142X
; Faculty of Law, Applied Science Private University, Amman, Jordan,
Hamad Al Kalbani
; Faculty of Law, Arab Open University, Muscat, Oman
* Corresponding author.
Abstract
This paper aims to demonstrate the regulation and approval of the insolvency process in terms of persons to whom the provisions of this Law apply and the stages of insolvency proceedings. In addition, to clarify the means of representation of creditors in insolvency proceedings; and to indicate the extent to which the Jordanian legislator addresses the nature of debts related to the confrontation of insolvency proceedings, placing them with a certain preference that differs from that of insolvency creditors whose debts arose in the debtor before the date of publicity. The paper opted for qualitative analytical approach of research by analyzing all provisions of legislation relating to insolvency proceedings and the legal regulation of insolvency agents will be
used in this study to identify, criticize and comment on their contents, implications and objectives. The authors have demonstrated of which being that insolvency creditors consisted of all creditors whose debts had arisen prior to the date of publication of insolvency and whose names were on the creditors’ list. In the face of insolvency, the Jordanian legislature had not provided creditors with secured rights, since the insolvency law recognized that secured creditors’ rights had a first priority in meeting their claims either from proceeds from the sale of the specified encumbered assets or in public funds, in accordance with the manner in which the encumbered assets were treated.
Keywords
insolvency; insolvency agents; creditors; premium rights; secured rights; Jordanian legislation
Hrčak ID:
332627
URI
Publication date:
24.6.2025.
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