Bankruptcy Law

1. For registering a petition for the initiation of a liquidation procedure, the petition shall be filed along with the relevant information and documents, as specified by the Regulations. 2. No petition by one or more creditors shall be registered with the court unless: a) the debt is due, and its amount, origin, and related securities, if any, are specified; b) the amount of debt or the aggregate value of petitioners’ debts is less than the amount determined by the Bankruptcy Committee; or c) the debt in question is due either pursuant to a writ of execution or an ordinary document, provided the creditor proves that he has requested the debtor to repay such debt 28 days prior to the date of filing the petition, and the debtor has not paid nor disputed the debt, as specified in the Regulations.