Financial Restructuring and Bankruptcy Law

Article 19 — Article (19) Multiple Applications

Chapter Two: Initiation of Proceedings

1. If multiple applications are submitted regarding the debts of the same debtor, they shall all be combined, and a single action shall be taken regarding them altogether. If these applications include a preventive settlement application, a application and a bankruptcy declaration application, the submitted applications shall be considered a request to initiate proceedings as an original request and a request to initiate bankruptcy proceedings as an alternative request. The Bankruptcy Court issues its decision not to admit the preventive settlement application. 2. If there are multiple applications submitted by the debtor, the application for the initiation of preventive settlement proceedings shall take precedence over the application, and the application shall take precedence over the bankruptcy declaration application, in addition, the application submitted first shall take precedence and the applications submitted thereafter shall be deemed alternative applications. A decision may not be made on the alternative application unless the court does not issue its decision to admit the original application.

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