Bankruptcy Law

1. The small debtor may, during the period from the date of the initiation of the small debtors' protective settlement procedure until the issuance of the creditors’ approval of the proposal, file a petition with the court to order a moratorium for a period not exceeding 90 days. The court shall render its decision within five days from the date of filing. 2. The moratorium period shall expire upon the lapse of the period specified in paragraph (1) of this Article or at an earlier date if the voting on the proposal by the creditors is in its favor, if the necessary quorum for the owners’ or creditors’ vote is not met, or if the procedure is terminated.