Article 591 — Determining the Date of Cessation of Payments

1/ At the hearing for opening the proceedings, the Court shall verify whether the debtor is in cessation of payments and fix the date of cessation of payments. 2/ The court may, at its discretion, appoint an investigator for the purpose of investigating into the affairs and activities of the debtor; The investigator so appointed may request the assistance of the supervisor in reorganization or the trustee in bankruptcy, where one has already been appointed. 3/ Unless an extension is given by the court, all information collected by the investigator shall be reported to the court within thirty days. 4/ Within one year after the opening of proceedings, the supervisor in reorganization, the trustee in bankruptcy, any controller, the public prosecutor or a creditor may file an application to the court to reassess and redetermine the date of cessation of payments; The court may for this purpose appoint an expert to investigate the affairs and activities of the debtor. 5/ The period from the date of cessation of payments as fixed by the court in accordance with Sub-Article (1) until the date of the opening of proceedings shall be considered as a suspect period; The duration of the suspect period may not exceed a maximum period of eighteen (18) months.