At the first public hearing, the competent court shall rule in favor of opening a reorganization or assets liquidation proceedings after hearing or duly summoning the debtor, delegates or staff representatives, the public prosecutor and, where appropriate, the creditor petitioner pursuant to the law of the concerned State party.
The competent court shall hear any other person whose hearing he deems material.
Prior to delivering his judgment, the court may appoint a sitting judge or any other individual deemed qualified to write a report on the debtor’s economic and social position within an allotted timeframe, but which cannot exceed one (1) month.
When the debtor exercises a regulated liberal profession, the competent court shall make a ruling, after duly summoning and hearing the representative of the professional order or the competent regulator of the debtor.
The competent court petitioned shall not refer the matter to the docket.
Unofficial translation
Transcription: Spot-checked
In force from 24-12-2015
Source page 41
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
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