SECTION 5-4

In the opening decision, the president of the competent court shall appoint a conciliator. The conciliator shall fully exercise his civil rights, prove his professional qualifications and shall remain independent and impartial with regard to the parties involved in the conciliation. He should not have received, in any capacity whatsoever, directly or indirectly, compensation or payment from the debtor in interest, any creditor of the debtor or a person who supervises him or is supervised by him in the twenty-four (24) months preceding the conciliation opening decision. Parents or relations of the debtor to the fourth degree inclusive shall not be appointed conciliator. The same shall apply to any public prosecutor in office or who has resigned in the last five (5) years. Upon notification of his appointment, the conciliator shall certify that, to his knowledge, he meets the above mentioned conditions. At any time during the conciliation, if it appears to him that he is no longer able to meet such conditions, he shall forthwith notify the president of the competent court who, if need be, may terminate his mandate and appoint a replacement. The compensation terms of the conciliator shall be determined by the president of the court with the consent of the debtor on the day of the opening of the conciliation. The basic criteria for fixing the compensation, the maximum amount allowed and the amount shall be stated in a document signed by the debtor and the conciliator and appended to court decision appointing the conciliator. During his mandate, where the conciliator considers that the original amount is insufficient, he should notify the president of the court who shall set new terms with the consent of the debtor. In the absence of agreement on the terms of the compensation, the mandate of the conciliator shall be terminated. The compensation of the conciliator shall be borne by the debtor and is tax deductible. P. 20 of 139