Article 87 of Bankruptcy Law

The debtor shall implement the preventive settlement proposal in accordance with what the creditors have approved and the bankruptcy judge has ratified. He shall also, within ten days from the date of completion of implementation of the settlement proposal, notify the Bankruptcy Department thereof and attach to the notification a statement of the indebtedness settled and the method of settlement, and shall also attach the document evidencing settlement. The bankruptcy judge shall issue a decision confirming completion of implementation of the settlement proposal and the conclusion of preventive settlement proceedings within ten days from the date on which the Bankruptcy Department receives the notification. The second paragraph of Article 86 of this Law shall apply to the decision. The bankruptcy judge may request the opinion of the supervisor, in Law Index 1408 Home Page Bankruptcy Law Law No. 71 of 2020 Promulgating the Bankruptcy Law the event of his appointment, concerning completion of implementation of the settlement before issuing the aforesaid decision. He may also request the opinion of the Bankruptcy Committee concerning completion of implementation of the settlement, even if the indebtedness is not subject to its supervision, before issuing the aforesaid decision. Creditors who dispute the correctness of the contents of the debtor’s notification concerning settlement of their indebtedness may lodge a grievance against the decision referred to in the preceding paragraph. If the grievance is accepted, the debtor shall implement the preventive settlement proposal in respect of the creditor whose grievance has been accepted, and the preventive settlement proposal shall be deemed not to have been implemented in respect of that creditor.