SECTION 139

The termination of the composition may be ordered: 1° in case of non-performance by the debtor of his commitments under the composition agreement or the remissions and time limits given; however, the competent court shall determine whether these breaches are sufficiently serious to permanently compromise the execution of the composition agreement and, otherwise, it may grant a time limit for payment which shall not exceed those already granted by the creditors by more than six months; 2° where the debtor is prohibited, for whatever reason, from carrying on a commercial activity, except where the duration and nature of the said prohibition are not incompatible with the pursuance of the activity of the company under a management lease for purposes of a possible transfer of the company under conditions which are satisfactory to those concerned; 3° where, in the case of a company on whose behalf the composition is granted, a manager against whom personal bankruptcy or prohibition to direct, manage or administer a commercial company has been pronounced again assumes in fact or in law the direction of the said company; where the prohibition is imposed on the manager during the execution of the composition agreement, the said agreement shall be cancelled unless the manager effectively stops performing the duties which he has been prohibited from performing; however, the competent court may grant a reasonable time limit, which shall not exceed three months, within which to replace the said manager. Any creditor or the Controller of the composition may petition to the competent court; the said court may also of its own motion examine the matter after hearing or duly summoning the debtor. The cancellation of the composition agreement shall not release the securities given to guarantee its full or partial execution.