Article 123 of Bankruptcy Law

The debtor shall invite creditors to approve the restructuring plan by means of a notice Law Index 1417 Home Page Bankruptcy Law Law No. 71 of 2020 Promulgating the Bankruptcy Law including the time and place of the meeting, in accordance with the procedures set out in the restructuring plan, provided that the meeting is held no later than one month from the date on which the representative of the creditors' committee and the committee members are notified of the plan and its attachments. The debtor shall chair the meeting. With the approval of the required majority, the trustee, a creditor or another person may be appointed to chair the meeting. The debtor shall also, within the period specified in the preceding paragraph, send an invitation to the Bankruptcy Committee if the indebtedness is subject to its supervision, and to the relevant supervisory authority if the debtor is subject to the supervision of a supervisory authority. If the debtor refrains from holding the meeting as set out in the first paragraph of this Article, the bankruptcy judge shall, at the request of the trustee or a creditor, task the Bankruptcy Committee, even if the indebtedness is not subject to its supervision, or the trustee, with convening a meeting of creditors. The trustee or a member delegated by the Bankruptcy Committee, as the case may be, shall chair the meeting. If attendance is through modern means of communication, the trustee must attend the meeting. In that case, the signatures of the debtor and the trustee or the chair of the meeting on the minutes may suffice, unless the Executive Regulations of this Law provide otherwise. Confirmation of the Plan