1. The debtor shall implement the preventive settlement proposal in accordance with the terms agreed upon by the creditors and ratified by the Bankruptcy Court. It shall further notify the Bankruptcy Department within (10) ten days from the date of completion of the preventive settlement proposal. A statement of the debts that have been settled and the method of settlement shall be attached to the notification, as well as the document proving the settlement. 2. The Bankruptcy Court shall issue a decision to complete the execution of the preventive settlement proposal and the end of the preventive settlement proceedings within (10) ten days from the date the Bankruptcy Department receives the notification, and the provisions Article (78.2) of this Law shall apply to this decision. The Bankruptcy Court may request the opinion of the controller, if appointed, regarding the completion of the execution of the preventive settlement before issuing the decision. It may also request the opinion of the Unit, where the debtor is supervised by the regulatory authority, regarding the completion of the execution of the settlement, before issuing the decision. 3. Creditors, who challenge the validity of the debtor's notification regarding the settlement of their debts, may file a grievance against the decision referred to in Clause (2) of this Article. If the grievance is admitted, the debtor shall execute the preventive settlement proposal regarding the creditor whose grievance was admitted, and the preventive settlement proposal shall be considered not executed with respect to this creditor.
Interpretation and application must be checked against the official text and current version.