Within (10) ten days following the Bankruptcy Department's receipt of the notification on approval by the creditors of the preventive settlement proposal and attachments thereof, the Bankruptcy Court shall endorse the proposal after verifying the fulfillment of the following conditions: 1. The preventive settlement proposal is approved by the required majority. 2. The preventive settlement proposal meets the standards of fairness, set hereinbelow: a. The creditors are provided with complete information and granted sufficient time to examine the preventive settlement proposal. b. Never prejudice the procedures set for the meeting of creditors and voting mentioned in the preventive settlement proposal submitted to the Bankruptcy Department before the initiation of the preventive settlement proceedings. c. Subject to the existing rights of creditors, especially the rights of creditors who hold mortgage and lien rights, and equality between rights holders with equal positions, especially with regard to sharing losses and distributing new rights.
Interpretation and application must be checked against the official text and current version.