Bankruptcy Law

Modified 1. The registration of a petition for the initiation of a small debtors’ financial restructuring procedure or the initiation of such procedure shall result in a moratorium for a period of 180 days, and the court may, on its own motion or the motion of the trustee or the debtor, extend such period by not more than 180 days. 2. The moratorium period shall end upon the expiry of the period specified in paragraph (1) of the Article or before, if the petition for initiation of the procedure is rejected, the proposal is implemented, or the procedure is terminated prior to its implementation.