Section II Completion of the Bankruptcy Proceedings

The receiver shall submit to the court a report on his activities, as well as the final account of the distribution and of the remaining unredeemed receivables, within a period not longer than one month after the depletion of the bankruptcy estate, with the exception of the unsellable chattels.

(1) The court shall convene a conclusive creditors' meeting within 14 days after receiving the receiver's report.

(2) The meeting shall adopt the final account of the distribution and of the remaining unredeemed receivables, and shall decide on the unsellable chattels from the bankruptcy estate.

(1)

The bankruptcy proceedings shall be terminated by a court ruling, when:

1.

The obligations have been paid;

2.

The bankruptcy estate has been depleted.

(2)

By the ruling under paragraph. 1, the court shall enact a deletion of the merchant, unless all creditors have been satisfied and assets have remained.

(3)

The ruling under paragraph. 1 is subject to appeal within 7 days after its promulgation in the State Gazette.

(1) The receiver's powers shall be terminated with the termination of the bankruptcy proceedings.

(2) The receiver shall hand over the commercial books and the assets balance to the debtor or to the debtor's managerial body.

Upon the injunction of the court, the receiver shall deposit with a bank the amounts which have been set aside in the final distribution for the uncollected or disputed receivables.

(1)

The effect of the attachment shall be terminated by the termination of the bankruptcy proceedings.

(2)

The attachment shall be deleted proprio motu as from the day of promulgating the announcement of the termination of the bankruptcy proceedings.

(1)

The receivables which have not been claimed in the bankruptcy proceedings and the rights which have not been exercised shall be extinguished.

(2)

The receivables which have not been satisfied in the bankruptcy proceedings shall be extinguished, with the exception of the cases under Art. 744, paragraph. 1.

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