Bankruptcy Law

1. Without prejudice to the provisions of Chapter 14 of this Law, the registration of a petition for the initiation of an administrative liquidation procedure or its initiation shall result in a moratorium pending a decision by the court to reject such petition or terminate the procedure. Any action to the contrary shall be deemed null and void. 2. The court may, upon the request of the Bankruptcy Committee, order the recovery of any asset disposed of during the moratorium period or take any other action, without prejudice to the rights of bona fide third parties. An aggrieved party may file a claim for compensation. 3. During the moratorium period, the court shall consider the petition of a creditor whose exact property is found in the possession of the debtor, as specified in the Regulations. 4. Notwithstanding paragraph (1) of this Article, the court may, upon the petition of a person with interest, suspend the moratorium period for certain claims which were subject of a procedure prior to its commencement, if the court establishes that such action is in the best interest of the debtor and the majority of creditors.