1. The debtor shall call on the creditors to approve the preventive settlement proposal, pursuant to a notice that includes the date and place of the meeting, in accordance with the procedures contained in the preventive settlement proposal. The meeting shall be held at least ten (10) days after the date of sending the call for the meeting, and within a period not exceeding (30) thirty days from the date of notification of the representative of Creditors' Committee and members of the committee of the plan and its attachments. 2. The debtor shall address the call, within the dates stipulated in Clause (1) of this Article, to the Unit if the debtor is supervised by the regulatory authority and to the regulatory authority. 3. The debtor shall chair the meeting, and with the approval of the required majority, the creditors or other persons may be chosen to chair the meeting. 4. In the event that the debtor refrains from holding the meeting as set forth in Clause (1) of this Article, the Bankruptcy Court shall, based on a motion submitted thereto by any of the creditors or the Unit, where the debtor is supervised by the regulatory authority, call the creditors to hold the meeting. The meeting shall be chaired by the Head of the Bankruptcy Department or his authorized representative, to carry out all the measures that the debtor should have undertaken in this regard.
Interpretation and application must be checked against the official text and current version.