No secondary collective proceedings may be terminated by preventive composition agreement
or by recovery composition agreement or by liquidation proceedings unless consent for such
termination is given by the Bankruptcy Trustee of the principal collective proceedings. Such
consent shall be given within the time limit of thirty days with effect from the date the request
of the Bankruptcy Trustee of the secondary collective proceedings is made by registered mail
or by any other means with written proof thereof.
The Bankruptcy Trustee of the principal proceedings shall be deemed to have given his approval
if he fails to give a response to the said request within the prescribed time limit of thirty days.
The Bankruptcy Trustee of the principal collective proceedings may refuse to give his approval
only where he finds that the solution proposed affects the financial interests of the creditors of
the proceedings for which he is appointed.
In case of a dispute, the court competent to order the closure of the secondary collective
proceedings shall give a ruling as it would do in matters of preventive composition agreement
or composition agreement or liquidation.
Official translation
Spot-checked
In force from 10 April 1998
Source page 74