SECTION 124

The Bankruptcy Trustee shall during the meeting present a report on the state of the receivership, the fulfilled formalities, the operations carried out as well as on the results obtained during the continuation of business. A financial statement drawn up and closed on the last day of the preceding month shall be presented in support of the report. The statement shall indicate the available or realizable assets, the unsecured debts and those guaranteed by property or a general lien as well as the Bankruptcy Trustee’s opinion on the composition proposals. The Bankruptcy Trustee’s signed report shall be handed over to the competent court which shall receive it after listening to the Judge Administrator’s views on the nature of the receivership and on the admissibility of the composition agreement. The representative of the Legal Department shall be allowed to submit orally or in writing.