Action For Annulment Of Objection Before Arbitration

Introduction

Action for annulment of objection is regulated under Article 67 of the Bankruptcy and Enforcement Law No. 2004 ("Law No. 2004"). According to this Article, "The creditor whose execution proceeding is interrupted by the debtor's objection may file an action for annulment of objection within one year as of the receipt of such objection and may ask the court to examine the case under general rules of law." The main purpose of such action is to continue the execution proceedings that have been interrupted by the debtor's objection. Since this action for annulment of objection will be heard under the general rules of law, the decision rendered after such adjudication shall be deemed final and binding in terms of substantive law. That being said, scholars and the court decisions continue to debate whether this action for annulment of objection is to be heard before an arbitrator or an arbitral tribunal.