Only a decision of a competent court may order the commencement of collective proceedings
for receivership or liquidation.
Before the decision to commence collective proceedings, the President of the competent court
may appoint a judge who shall be a member of the Bench or any person he deems qualified to
prepare and submit to him within a period which he shall determine a report containing all
information on the situation and activities of the debtor and on the composition proposal made
by him.
Where necessary, the competent court shall render its decision at the next possible court session
on the report mentioned in the preceding paragraph; irrespective of the manner the matter was
referred to it, the court may not render its decision before the expiration of the time limit of
thirty days following the date the matter is referred to it.
The competent court to which the matter is referred may not enroll the matter on the general
cause list.
Official translation
Spot-checked
In force from 10 April 1998
Source page 17