Article 225 of Bankruptcy Law

Creditors holding secured debts may, after obtaining permission from the bankruptcy judge, take enforcement proceedings against the assets securing their debts or exercise their rights stipulated in the contract. In this case, the sale may be conducted through the trustee without the need to follow enforcement procedures. The creditor shall pay sale fees to the Bankruptcy Department as determined by the Executive Regulations of this Law, and shall also pay remuneration to the trustee in accordance with a decision issued by the Minister upon the proposal of the Bankruptcy Committee. The sale fees and the trustee’s remuneration shall be collected after completion of the sale and collection of the price. If no trustee has been appointed, the bankruptcy judge may appoint a trustee upon the creditor’s request to perform the duties stipulated in this Article.