Article 241 of Bankruptcy Law

After the issuance of the decision opening proceedings, neither the debtor nor the trustee may undertake any of the following dispositions except with permission from the Bankruptcy Judge: 1 - Distributing profits to shareholders and partners. 2 - Disposition by members of the board of directors and managers of their shares in the debtor company. Law Index 1443 Home Page Bankruptcy Law Law No. 71 of 2020 Promulgating the Bankruptcy Law Nor may any amendment be made to the company's memorandum of association except after obtaining the approval of the Bankruptcy Committee for amendments made during preventive settlement proceedings, or of the trustee for amendments made during restructuring or declaration-of-bankruptcy proceedings. The Bankruptcy Committee or the trustee may reject the amendment within ten days of being notified thereof if the amendment would affect creditors' rights. The debtor may object before the Bankruptcy Judge to the decision of the Bankruptcy Committee or the trustee within ten days of being notified thereof. The Bankruptcy Judge shall issue his decision within ten days from the date the objection is submitted. Seventh Subdivision Settlement and Netting of Securities