Bankruptcy Law

The court may terminate the protective settlement procedure if: a) the debtor files a petition with the court for the termination of the procedure due to the completion of the implementation of the plan; b) the quorum required for voting on the proposal by the owners or creditors is not met, or if it is not possible for the owners or creditors to vote on the proposal on the set date, without prejudice to Article 31(5) of this Law; c) the court refuses to confirm the proposal; d) the debtor files a petition for the termination of the procedure due to the fact that procedure initiation conditions are no longer applicable; e) the debtor or the creditor files a petition for the termination of the procedure due to inability to implement the plan; f) the debtor files a petition for the termination of the procedure due to his intention 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 material breaches during the procedure, or due to the debtor's commission of any of the offenses stipulated in this Law.