1. The trustee, the debtor and the Unit, where the debtor is supervised by the regulatory authority, shall be notified of any application submitted by secured creditors in accordance with Article (213) of this Law, not later than (10) ten days from the date of its submission. The Unit, the trustee or the debtor may object to the creditor's application before the Bankruptcy Court, within (10) ten days from the date of their notification, in any of the following cases: a. If admitting the application would hinder the debtor from carrying out its activity in a meaningful manner. b. If admitting the application would prevent the submission of a proposal for a preventive settlement or plan that could be approved by the creditors or would render the preventive settlement or useless. c. If admitting the application would cause the debtor and creditors damage greater than the damage that might befall the creditor if the application was dismissed. 2. The Bankruptcy Court shall issue its decision on the objection referred to in Clause (1) of this Article, not later than (10) ten days from the date of its submission.
Interpretation and application must be checked against the official text and current version.