The Bankruptcy Judge has issued a decision to restructure the Bankruptcy Committee of Investment Dar Company, resulting in the formation of the Bankruptcy Trustees Committee. This decision includes the replacement of Ibrahim Al-Ansari, who served as Secretary of the Committee under Bankruptcy Judgment No. 380 of 2019 Commercial and Full Civil, with Ali rakhis as the new Secretary of the Bankruptcy Committee.

The newly-formed Tripartite Committee consists of Ali rakhis, Ahmed Al-Duaij, and Hanadi Al-Bader, who have been appointed as trustees for the bankrupt company - Investment Dar Company.

The Bankruptcy Judge's decision has outlined several instructions for the Bankruptcy Trustees Committee's initial phase. These instructions include conducting an inventory of the company's assets and property, implementing necessary precautionary measures to safeguard the interests of the debtor and creditors, documenting all activities related to the management of the debtor's funds and business in dedicated books and records, managing and preserving the debtor's funds, books, papers, and other bankruptcy assets, and submitting a bi-monthly report on the status of the debtor's funds and business to the bankruptcy administration.

Furthermore, the decision mandates the dissemination of a summary of the bankruptcy judge's decision to notify creditors about the process and invite them to submit their claims and supporting documents. All creditors have been given a deadline of one month from the date of the invitation to provide their claims and documents to the Bankruptcy Trustees Committee, which will then maintain a registered record of all creditors of the company. The bankruptcy trustees must submit an updated copy of this register to the Bankruptcy Department. Additionally, the decision requires the trustees to settle the debts within one month after the deadline for submitting creditors' claims. After completing the investigation of debts, the trustees must deposit a list of debts with the Bankruptcy Department, which includes the creditors' names, any special insurance on the debtor's property, the amount owed to each creditor, supporting documents, and reasons for any disputes related to the debts. The bankruptcy trustees are then expected to announce this list within ten days after its submission, highlighting any amounts deemed rejected by the trustees.

It is important to note that this case has been initiated by Burgan Bank, the World Bank, the Industrial Bank, the Commercial Bank, the Gulf Investment House, the National Investments Company, and Al-Buraq Holding Company.