Financial Restructuring and Bankruptcy Law

Article 190 — Article (190) Bankruptcy Proceeding Termination Decision by Bankruptcy Court

Part Three: Declaration of Bankruptcy · Chapter Ten: Closure and Termination of Bankruptcy Proceeding

1. The bankruptcy court may only issue a decision establishing termination of bankruptcy proceeding due to extinguishment of the creditors' interest after the Trustee submits a report asserting the fulfillment of either of the two conditions referred to in Article (189) hereof. 2. The bankruptcy proceeding shall be terminated as soon as the decision referred to in Clause (1) of this Article is issued, and the Bankruptcy Department shall serve and register such a decision within ten (10) days following its date of issue, as described in Article (35) hereof. 3. The bankruptcy trustee shall be responsible for the documents delivered thereto by, or in relation to, the debtor for a period of three (3) years following the bankruptcy proceeding termination date.

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