Article 36 of Bankruptcy Law

In all cases in which a decision appointing a trustee is assessed after approval of the list of creditors, or the Bankruptcy Judge issues a decision replacing the trustee or appointing a new trustee, the Bankruptcy Committee shall Law Index 1395 Home Page Bankruptcy Law Law No. 71 of 2020 promulgating the Bankruptcy Law even if the indebtedness is not subject to its supervision - within ten days from the date of issuance of that decision, invite all creditors, including creditors holding secured debts, to nominate a trustee and assess his fees. The Bankruptcy Committee may prepare a list of three candidates, or fewer or more, from which a selection shall be made. The chairman of the Bankruptcy Committee or a person designated by him shall preside over this meeting, and the candidate shall be selected with the approval of the required majority. If the creditors' committees approve the nomination of a trustee in the foregoing manner and assess his fees, the Bankruptcy Committee shall notify the Bankruptcy Department thereof within ten days of the creditors' meeting. The Bankruptcy Judge shall issue his decision appointing the trustee within ten days from the expiry of the period specified in this paragraph.