SECTION 8

Where the proposed arrangement appears reasonable to the president of the competent court, he shall open the procedure and appoint an expert in preventive settlement who meets the conditions and description of Article 4-2 above. He shall be tasked with drafting a report on the financial and economic situation of the debtor company and the prospects for recovery, taking into account the time extensions and debt reduction consented or that may be consented by creditors and all other measures contained in the proposed arrangement. The appointed expert shall be governed by the provisions and requirements of Title I of this Uniform act. He shall be notified, without delay, of his appointment by the president of the competent court by hand-delivered letter against a receipt or by registered mail with request for acknowledgement of receipt or by any traceable written means. The president of the competent court may provide for his compensation in the appointment decision pursuant to Article 4-18 above.