Bankruptcy Law

The court shall terminate the small debtors' protective settlement procedure if: a) the small debtor petitions the court to terminate the procedure due to the completion of implementation of the plan; b) the quorum required for voting on the proposal by the owners or creditors is not met or if creditors fail to vote on the set date, without prejudice to Article 134(4); c) it decides to nullify the plan; d) the small debtor files a petition for the termination of the procedure on the grounds that the conditions for the initiation of the procedure are no longer applicable; e) the small debtor or the creditor files a petition for the termination of the procedure on the grounds that implementation of the plan is infeasible; f) the small debtor files a petition for the termination of the procedure due to his intent not to continue management of his business or implementation of the plan; or g) a person with interest files a petition for the termination of the procedure due to substantial violations during the procedure or due to the small debtor committing any of the offenses stipulated in this Law.