1. The preventive settlement proposal ratified by the Bankruptcy Court shall be effective with respect to all the creditors included, including the creditors who disapproved the proposal and those who did not attend the meeting to vote on the proposal. 2. The Bankruptcy Department shall announce, notify, and register in accordance with Article (35) of this Law every decision issued ratifying the preventive settlement proposal, disapproving the proposal, suspending ratification, terminating the proceedings, initiating proceedings or declaring bankruptcy, not later than (10) ten days following the issuance of the decision. The Bankruptcy Court may simply record the decision in the Bankruptcy Register and the Commercial Register.
Interpretation and application must be checked against the official text and current version.