Article 89 of Bankruptcy Law

The Bankruptcy Court may, upon an application submitted to it by an affected creditor during the period following the decision ratifying the preventive settlement proposal and before completion of implementation of the proposal, rule to terminate the preventive settlement proceedings, if any of the following cases occurs: (1) Criminal proceedings are instituted against the debtor for any of the offences provided for in this Law, provided that the application is submitted within the six months following the date on which those proceedings were instituted, and provided also that those proceedings were instituted after ratification of the preventive settlement proposal and before completion of its implementation; otherwise, it shall be inadmissible. 2) A judgment convicting the debtor of any of the offences provided for in this Law is rendered after ratification of the preventive settlement proposal and before completion of its implementation. If the debtor fails to implement the terms of the preventive settlement proposal. ) If the debtor dies and it becomes apparent that implementation of the proposal is impossible. h) If matters arise after the date of ratification of the proposal that would render the debtor's business incapable of continuing, or affect the debtor's ability to implement the settlement proposal such that the debtor is no longer expected to be able to implement that proposal in accordance with its terms. (6) If the debtor refuses to provide the information, data and documents required of him. If the debtor commits a gross error in managing his assets or business during the period following Index of the Law 1409 Home Page Bankruptcy Law Law No. 71 of 2020 Promulgating the Bankruptcy Law the issuance of the decision to commence preventive settlement proceedings. If the debtor, when submitting his application to commence preventive settlement proceedings or thereafter, commits fraud or deception or provides misleading information. The Court may, upon the application of interested parties, order such precautionary measures as it deems appropriate, and these measures shall be revoked if a final judgment acquitting the debtor is rendered.