Article 129 of Bankruptcy Law

The Bankruptcy Judge may, upon an application submitted to him during the period following the decision ratifying the restructuring plan and before completion of the implementation of the plan, decide to terminate the restructuring proceedings if either of the following two cases occurs: 1 - If the debtor requests termination of the proceedings on the basis that the conditions for opening restructuring proceedings no longer apply to it, or that implementation of the restructuring plan in accordance with the terms of the plan is not expected. 2 - If the debtor or the supervisory authority requests the opening of bankruptcy declaration proceedings. The Bankruptcy Administration shall notify the creditors and the trustee of the application within ten days from the date of its submission, and the Bankruptcy Judge shall issue a decision approving or rejecting the application within ten days from the date of its submission. Law Index 1419 Home Page Bankruptcy Law Law No. 71 of 2020 Promulgating the Bankruptcy Law