Article 76 of Bankruptcy Law

The debtor shall invite the creditors to approve the preventive settlement proposal by a notice containing the time and place of the meeting, in accordance with the procedures set out in the preventive settlement proposal, provided that the meeting is held at least ten days after the date on which the invitation to the meeting is sent and within a period not exceeding one month from the date on which the representative of the creditors’ committee and the committee members are notified of the plan and its attachments. The debtor shall also, within the time specified in the preceding paragraph, send an invitation to the Bankruptcy Committee if the indebtedness is subject to its supervision, and to the competent regulatory authority if the debtor is subject to its supervision. The debtor shall chair the meeting, and, with the approval of the required majority, a person from among the creditors or others may be chosen to chair the meeting. Home Page 1405 Law Index Bankruptcy Law Law No. 71 of 2020 Promulgating the Bankruptcy Law If the debtor refrains from convening the meeting as specified in the first paragraph of this Article, the Bankruptcy Judge shall, upon an application submitted to him by the trustee or a creditor, instruct the Bankruptcy Committee, even if the indebtedness is not subject to its supervision, to call a creditors’ meeting, chaired by a person it delegates from among its members, and to perform all the acts that the debtor is required to perform under the following articles of this subdivision and the subdivision concerning ratification.