1. In all cases in which a decision is issued to appoint a Trustee after approving the list of creditors, or in cases in which the Bankruptcy Court issues a decision to replace the Trustee or appoint a new Trustee, the Bankruptcy Department shall call all creditors within (10) ten days following the date of issuance of the decision, including creditors with secured debts, to nominate a Trustee and estimate his fees. The Bankruptcy Department may, in coordination with the Unit, develop a list of not less than (3) three candidates to be selected from. The Head of the Bankruptcy Department or his representative shall chair this meeting, and the nominated Trustee shall be appointed based on the approval of the required majority. 2. If the Creditors' Committee stipulated in Article (63) of this Law approves the selection of the Trustee as described in Clause (1) of this Article and his fees are estimated, the Bankruptcy Department shall, not later than (10) ten days of the creditors' meeting, announce the outcome of the meeting to the Bankruptcy Court so that the latter can approve the selection of the Creditors' Committee and issue a decision to appoint the Trustee and estimate his fees. 3. In the event that the Creditors' Committee does not agree on appointing the Trustee and determining his fees, the Bankruptcy Court may appoint the Trustee and determine his fees from a list prepared by the Bankruptcy Department in coordination with the Unit, in which the number of candidates shall not be less than three (3).
Interpretation and application must be checked against the official text and current version.