1)

The liquidator may take all actions that he deems necessary to protect the Company’s rights, including:

a. 

Revoking any disposition or terminating any contract concluded by the Company, or recovering any amount it has paid during the three months preceding the issuance of the liquidation decision, if it involves giving preference to a certain person over the Company’s creditors. The period shall be one year if the Company is related to, or affiliated that person. Preference is deemed to have materialized if the disposition or procedure has been done without receiving consideration, whether fully or partially, or if it involves valuing property or rights differently than its real value or contrary to its value prevailing in the market.

b. 

Revoking any disposition or terminating any contract concluded by the Company with any Person who is related to, or affiliated with the Company, or recovering any amount paid by the Company to any of them, within the (3) months prior to the issuance of the liquidation decision.

c. 

Agreeing with any of the Company’s debtors on how to pay or pay in installments any amounts or obligations owed.

d. 

Terminating the employment of any of the Company’s employees and paying their dues.

e. 

Terminating any contract concluded by the Company with any Person before the expiry of its term.

2)

The liquidator shall undertake any of the procedures referred to in Clause (1) above by notifying the concerned person under a written notice. However, this procedure may be challenged before the competent court, having territorial jurisdiction where the Company’s head office is located, within (30) days as from the notification of such Person.