Financial Restructuring and Bankruptcy Law

Article 262 — Article (262) Effects of Filing of Grievance

Part Six: Grievances and Appeals · Chapter One: Grievances

1. The grievance shall not entail the suspension of the proceedings unless the Bankruptcy Court decides otherwise. 2. The Bankruptcy Court may request the Grievant to provide an in-kind or bank guarantee issued by any of the banks operating in the State, or any other guarantee it decides, to guarantee any damage that may occur as a result of suspension of the proceedings. 3. The Grievant shall recover the guarantee if the grievance is decided in its favor.

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