1. The Bankruptcy Court shall decide on the application within (10) ten days from the expiry of the periods specified for responding thereto, by issuing a decision to initiate preventive settlement, or bankruptcy proceedings. In addition, it shall specify in its decision a temporary cessation of payment date. 2. If the decision to initiate the proceedings fails to designate the date on which the debtor defaults, the date on which the decision to initiate the proceedings is issued shall be considered a temporary cessation of payment date. 3. If the decision to initiate the proceedings was issued after the death of the debtor or after its retirement from trade or loss of capacity, and the cessation of payment date was not specified, the date of death, retirement from trade or loss of capacity shall be considered a temporary cessation of payment date.
Interpretation and application must be checked against the official text and current version.