SECTION 29

The competent court shall rule on the matter, ex officio, namely based on information furnished by the representative of the public prosecutor, auditors of legal entities governed by private law, members of such legal entities or institutions representative of the staff who bring on information susceptible for motivating such action. The competent court may also be seized by the public prosecutor. In this instance, he shall furnish all supporting documents for the petition. The president of the competent court shall convene the debtor through a registrar’s notice served by a bailiff’s writ or any other notification through any means proving reception in writing by the addressee to appear before the competent court holding a hearing behind closed doors. The notification shall contain a full reproduction of this Article, and failure to reproduce this Article shall render such notification null and void. Where the debtor appears, the president shall inform him of the facts motivating the court action and shall note his comments. Where the debtor acknowledges the insolvency or the president is deeply convinced that the debtor is in such predicament, he shall grant a time limit not exceeding thirty (30) days to produce documents listed in article 26 above. The same time limit shall be granted to members of a legal entity who are indefinitely, jointly and severally liable for claims thereof. After such time limit, the competent court shall rule in open court. Should the debtor fail to appear, the competent court shall rule in first public hearing and decree a decision deemed adverse to the debtor.