If the creditor of a partners institutes enforcement proceedings against the equity stake of his debtor, he may agree with both the debtor and the Company on the method and terms of sale. Otherwise, the stake shall be offered for sale at an open auction based on an application to be submitted to the competent court. One or more partners may redeem the sold stake under the same terms of auction award, within [15] days of the date of award. These provisions shall apply in the event of bankruptcy of a partner.
Interpretation and application must be checked against the official text and current version.