The Supreme Constitutional Court ruled for the unconstitutionality of part of Article
\n561\/2 of the Egyptian Commercial Code as well as part of Article 586\/1 in what they
\nprovide for the power of the court to detain the bankrupt person or impose a travel
\nban thereon.<\/p>\n
The Supreme Constitutional Court said that these provisions violate the bankrupt\u2019s
\nright of personal freedom, which is a right strictly protected under Articles 54 and 92
\nof the Egyptian Constitution. The bankrupt person, as long as it does not commit a
\nfraud or a willful misconduct, is only a person who faced financial difficulties
\npreventing it from meeting its financial obligations, which is not a crime in itself to
\njustify the ‘harsh’ criminal penalty of detention.<\/p>\n
This ruling comes in line with the draft Bankruptcy Law expected to be issued soon.<\/p>\n
For more information on this topic, you can contact Dr. Eman Riad<\/a>, or Heba Elkady<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" The Supreme Constitutional Court said that these provisions violate the bankrupt\u2019s right of personal freedom<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"yoast_head":"\n