If, after an inventory of the debtor's assets, it becomes clear that their value does not exceed the value specified in the Executive Regulations, the court may, sua sponte or upon the motion of the debtor, the trustee or any of the creditors, order the initiation of proceedings for preventive settlement, or bankruptcy declaration, taking into account the following provisions: 1. Shorten the periods stipulated in this Law by half unless the Bankruptcy Court decides otherwise. 2. Never appoint a trustee unless the Bankruptcy Court decides otherwise. 3. Not appoint a Committee of Creditors unless the Bankruptcy Court decides otherwise. 4. The preventive settlement proposal or plan shall be considered admissible if it is approved by the majority of creditors who have the right to vote in number and value, without taking into account the debts and number of creditors who did not engage in the vote. 5. Notwithstanding Clause (4) of this Article, the Bankruptcy Court may decide to initiate preventive settlement or proceedings or declare bankruptcy despite the lack of approval of the creditors if it deems the same appropriate for the situation of the debtor and the interest of the creditors. 6. All judgments and decisions of the Bankruptcy Court may not be appealed, unless the reason for the appeal is related to lack of jurisdiction or the passage of appeal deadlines.
Interpretation and application must be checked against the official text and current version.