English
Notwithstanding the provisions of Article 651 of this
code, the Court may terminate the observation period and
convert the reorganization proceedings into bankruptcy
proceedings, where:
1/ it becomes apparent that the proportion of creditors
which could prevent the adoption of the
reorganization plan does not warrant the continuation
of the negotiations; or
2/ it becomes apparent that the supervisor in
reorganization is unable to find any investor for the
sale of the business as a going-concern; or
3/ the request is made by the debtor, the supervisor in
reorganization or the controller; or
4/ the debtor is not able to meet its payment obligations
with respect to claims that arise after the opening of
reorganization proceedings.
