Revival Of The Stumbled Companies In Iraqi And Egyptian Law (A Comparative Study)

Abstract

The creditors' interest requires the full recovery of their money as soon as possible. But the interests of the national economy require that commercial companies remain in place despite their financial inability to guarantee their financing of the national market with the required goods and to preserve the positions of their workers. For these reasons, many countries have adopted procedures and mechanisms that would prevent the stumbling commercial companies from stopping payments, ensuring the continuity of their activity. The phenomenon of commercial companies experiencing difficulties during their progress is a natural feature of the economy; also, weak and strong companies can face many difficulties that lead them to enter the stage of faltering; and since that was the case, the phenomenon of commercial companies stumbling is not limited to a particular country or a particular economic system, and the companies' entering the stage of stumbling entails taking all appropriate measures to establish these companies from their stumble and help them to rise again and get them out of this situation in order to continue the activity for which they were established.

Did the Iraqi and Egyptian legislators put in place a similar system to prevent commercial companies from stopping paying their debts? What are the monitoring and intervention mechanisms adopted by the aforementioned legislators to protect it and ensure the continuity of its activity? What are the faltering companies doing and what is the revival?