The liquidation and distribution plan shall include the following attachments: 1. A statement of all the debtor's assets and their latest valuation. 2. The method proposed by the Trustee to liquidate the debtor's assets and the justifications therefor. 3. A statement of whether it is possible to sell all of the debtor's assets at once or a large part thereof on the basis of an existing and ongoing activity, or whether the same will be impossible and the assets will be sold in parts, as well as the justification therefor. 4. Statement of whether the distribution of the debtor's assets to creditors in kind is possible. 5. Determine the appropriate timing for sale. 6. A statement of the assets sold at auction, and those proposed to be sold without an auction. 7. A statement of whether it is possible to make a settlement with the debtor's shareholders in exchange for giving up their shares in the debtor company to the creditors and settling the debt in exchange for their shares in the company, in addition to indicating whether the same serves the interests of the creditors and whether the same will be made through establishing a special purpose company to which the debtor's assets will be transferred and its shares distributed to creditors, through transferring the shares of shareholders in the debtor company to creditors or through any other method. 8. A statement of how the proceeds from the liquidation of the debtor's assets will be distributed to the creditors, clarifying the order and ranking of the creditors and the amount expected to be collected from each of them. 9. Determine the expected timetable for completing the liquidation and distribution process. 10. Statement of whether the Trustee will prepare a distribution list regarding the proceeds of the assets that he sells during certain periods such as (3) three or (6) six months or will prepare a distribution list whenever he sells a certain percentage of the debtor's assets, or otherwise. 11. Determine the maximum period between collecting the proceeds from the sale of the asset and distributing the same to creditors. 12. Any other matters that the Trustee deems necessary to include in the liquidation and distribution plan or that are assigned thereto by the Bankruptcy Court. The Bankruptcy Court may exempt the Trustee from including any of the items contained in this Article if it deems the same inappropriate for the bankrupt's position.
Interpretation and application must be checked against the official text and current version.