Troubled companies in Iraqi law and Egyptian law

Abstract

In addition to this, since ancient times, man has a belief in the need to cooperate with others to accomplish and implement various projects, especially in time. And projects of economic importance need to combine individual efforts and the accumulation of capital for the establishment of collective projects, may be unable to individual alone, no matter how rich and rich, these collective projects are called (companies), and given the importance and seriousness of the role of collective projects Acharkat- in the national economy, both as a tool for investment has become occupies the first place in the industrial and commercial activity but also agriculture in many countries.

Businesses often encounter obstacles that make them stumble in their work. These projects need to rethink their plans, get out of their crisis and get out of their stakes, and look for successful ways to get their business back and get out of the default crisis.

The interest of the creditors requires the full recovery of their money as soon as possible, but the interest of the national economy requires that commercial companies remain in place despite their financial inability to ensure their financing to the national market with the required goods, and to preserve the jobs of their cadre of managers, employees and workers, for these reasons many countries have adopted procedures and mechanisms It would save the troubled commercial companies from stopping the payment, to ensure the continuity of their activity.

Has the Iraqi legislator and the Egyptian legislator put in place a similar system to prevent commercial companies from ceasing to pay their debts? What monitoring and intervention mechanisms have been adopted to protect it and ensure continuity of its activities? What are troubled companies?