1. If six (6) months have passed without the liquidation process being completed, or without any remarkable development be achieved in respect thereof, the Trustee shall submit to the Bankruptcy Court a report on the liquidation status and the reasons for delayed completion thereof. The Bankruptcy Department shall serve such a report upon the creditors and shall call the latter to attend a meeting for discussing the report. This action shall be repeated whenever six (6) months have passed without the Trustee completing the liquidation work. 2. In all cases, the liquidation and distribution plan shall be completed not later than two (2) years starting from the plan implementation commencement date.
Interpretation and application must be checked against the official text and current version.