Article 181 of Bankruptcy Law

The liquidation and distribution plan must include the following: 1 - A statement of all the debtor’s assets and their latest valuation. 2 - The method proposed by the trustee for liquidating the debtor’s assets and the reasons for it. 3 - Whether all the debtor’s assets can be sold at once, or a substantial part thereof can be sold, on a “going and operating concern” basis, or whether this will not be possible and they will be sold in parts, and the trustee’s reasons therefor. 4 - Whether distribution of the debtor’s assets to creditors in kind is possible or not possible, and, if it is possible, which is preferable. h - The appropriate timing for the sale. 6 - A statement of the assets to be sold by auction and those proposed to be sold otherwise than by auction. 7 - Whether a settlement can be reached with the debtor’s shareholders in return for relinquishing their ownership in the debtor company to the creditors and settling the indebtedness in exchange for their shares in the company, whether this is preferable for the creditors, and whether this will be done by establishing a special-purpose company to which the debtor’s assets are transferred and whose shares are distributed to the creditors, or by transferring the shareholders’ shares in the debtor company to the creditors, or by any other method. - A statement of how the proceeds of liquidation of the debtor’s assets will be distributed to the creditors, specifying the ranking and priorities of the creditors and the amount expected to be collected from each of them. 9 - The anticipated timetable for completing the liquidation and distribution process. 10 - Whether the trustee will prepare a distribution list for the proceeds of the assets sold during specified periods, such as three or six months, or will prepare a distribution list whenever a specified percentage of the debtor’s assets has been sold, or otherwise, and the trustee’s reasons therefor. 11 - The maximum period that may elapse between collection of the proceeds of the sale of an asset and their distribution to the creditors. And any other matters that the trustee considers necessary to include in the plan or that the bankruptcy judge instructs the trustee to include. The bankruptcy judge may exempt the trustee from including any of the items set out in this Article if the judge considers them inappropriate to the bankrupt’s situation. Second Subdivision Voting on the Liquidation and Distribution Plan