Article 75 of Bankruptcy Law

The proposal may be founded on the basis of the debtor relinquishing some of his assets in exchange for settlement of all or some of his debts, and consequently paying all of the debtor's debts in kind or in cash, or paying a portion thereof in kind or in cash and cancelling the remainder or rescheduling the remainder so that the debtor is discharged from all or part of the debt. The extraordinary general assembly of the debtor joint-stock company, or the equivalent of the extraordinary general assembly in other companies, must approve the proposal.