1. The challenge shall be submitted to the Bankruptcy Department, which shall register the same with the Court of Appeal. The Court shall set a hearing to consider such challenge within (30) thirty days from the date of its submission. The date on which the challenge is submitted shall be considered the time of its submission to the Bankruptcy Department. 2. The Bankruptcy Department shall notify the parties of the challenge and notify the Unit, where the debtor is supervised by the regulatory authority, as well as the trustee and the controller if they are not litigated, and everyone whom the Bankruptcy Court deems necessary to notify, within a maximum period of (10) ten days from the date of submitting the challenge. 3. The Unit, the trustee and the controller shall each submit to the Bankruptcy Department a memorandum of its opinion on the challenge, not later than (10) ten days following their notification, and each interested party may submit to the Bankruptcy Department a memorandum of its defense or opinion within the period described herein.
Interpretation and application must be checked against the official text and current version.