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Agreement
Article 740.
- (1)
- At any point in the bankruptcy proceedings the debtor may conclude an agreement for settlement of cash obligations with all the creditors with accepted receivables. In this case the receiver shall not represent the debtor as an agreement party.
- (2)
- Bankruptcy proceedings shall be discontinued upon the conclusion of an agreement.
- (3)
- The agreement shall be concluded in writing.
Applicability of Civil Law
Article 741.
Civil law shall apply unless provided otherwise in the agreement or this Law.
Resumption of the Bankruptcy Proceedings
Article 741a
When the debtor does not fulfil the obligations of his under the agreement, the creditors, which present not less than 15 per cent of the total amount of the receivables, may request a resumption of the bankruptcy proceedings, without establishing of a new insolvency, respectively overindeptedness. A procedure for reorganization shall not be proceeded within the resumed bankruptcy proceedings.
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