1. Within (10) ten days following the date of issuance of the decision to initiate preventive settlement proceedings, the debtor shall coordinate with the creditors to form a Creditors' Committee of representatives from the groups of creditors. The committee shall be chaired and represented by the creditor holding the largest amount of the debtor's debts in each group, unless the required majority agrees or the creditors holding a majority of the creditors agree to appoint representatives for the group of creditors. 2. Subject to approval of the required majority of the creditors or the approval of the creditors holding the majority of debts, the committee's representative may be removed and replaced by a substitute representative. In the event that the latter fails to secure the aforementioned approvals, the representative shall be appointed from among the creditors holding the largest debts in a descending order.
Interpretation and application must be checked against the official text and current version.