SECTION 115

The competent court may, at the request of the representative of the Legal Department, the Bankruptcy Trustee or Controller, where one has been appointed, authorize the conclusion of a management agreement where the disappearance or even a temporary suspension of activity of the company is likely to jeopardize its recovery or to cause serious trouble to the national, regional or local economy in the production and distribution of goods and services. A management agreement may be concluded even where the lease on the real property contains a contrary term. The competent court shall refuse authorization where it considers that the guarantees offered by the manager under the lease are inadequate or where the latter fails to tender sufficient proof that he is independent of the debtor. The conditions relating to the duration of operation of the business by the debtor for the conclusion of a management agreement shall not apply. The duration of the management agreement contract may not exceed two years; it shall be renewable. The decision on the authorization of the management agreement shall be the object of the same communication and publicity as those provided for in Articles 36 and 37 above.