Article 226 of Bankruptcy Law

The trustee, debtor and Bankruptcy Committee—if the indebtedness is subject to its supervision—must be notified of any application submitted by creditors holding secured debts pursuant to the preceding Article within ten days from the date of its submission. The Bankruptcy Committee, trustee or debtor may object to the creditor’s application before the Bankruptcy Judge within ten days from the date of their notification, in the following cases: 1 - If accepting the application would hinder the debtor from carrying on his activity viably. - If accepting the application would prevent submission of a preventive settlement proposal or Law Index 1440 Home Page Bankruptcy Law Law No. 71 of 2020 Promulgating the Bankruptcy Law restructuring plan capable of acceptance by creditors, or render the preventive settlement or restructuring unviable. - If accepting the application would cause the debtor and creditors harm exceeding the harm that the creditor might suffer if his application were rejected. The Bankruptcy Judge shall issue his decision on the objection within ten days from the date of its submission.