What can the seller or mortgagee do if the owner of the business assets fails to make the required payments?
The seller or mortgagee may submit a petition to the interim relief judge, requesting permission to sell some or all of the constituent elements of the business assets in a public auction, after serving a notice to the debtor for a period of eight days from the date of service. This is in accordance with Federal Decree by Law No. (50) of 2022, which promulgates the Commercial Transactions Law 26.