1. The power of attorney shall be terminated upon the issuance of a decision to initiate bankruptcy proceedings for the attorney-in-fact or the principal. However, the power of attorney shall not be terminated upon the issuance of a decision to initiate bankruptcy proceedings if the attorney-in-fact or a third party has an interest therein. 2. Once the decision to initiate bankruptcy proceedings is issued, the debtor may not become a director or member of the board of directors of any company.
Interpretation and application must be checked against the official text and current version.