1. The Trustee shall call the debtor and the creditors to a meeting to provide their proposals regarding liquidation and distribution, provided that the meeting is held within (20) twenty days from the date the Trustee takes over the debtor's assets in accordance with the provisions of Article (131) of this Law. The notice for the meeting shall be served by means of notification at least ten days prior to the scheduled date of the meeting (10), and the Trustee shall chair the meeting. With the approval of the required majority, any of the creditors or third parties may be appointed to chair the meeting, where there are justifications therefor. 2. The notice to attend the meeting shall be sent to the Unit, where the debtor is supervised by the regulatory authority. 3. The Bankruptcy Court shall, based on a motion submitted thereto by a relevant party within (10) ten days from the submission of the motion, issue a decision on any dispute that arises regarding the meetings of creditors held in accordance with this Part, whether the dispute is regarding who has the right to call for, attend or vote in the meeting or the validity of the procedures for holding the meeting and voting therein. 4. The Bankruptcy Court may, upon motion of any of the creditors, assign the Unit, where the debtor is supervised by the regulatory authority, to call for the holding of these meetings to the head of the Bankruptcy Department or its delegate to chair them if the Trustee does not hold them on the dates specified for holding such meetings.
Interpretation and application must be checked against the official text and current version.