CHAPTER VI RESCISSION OF COMPOSITION

Article 63 (Cases where Composition shall be Rescinded)

In case falling under any of the following subparagraphs, the court shall decide the rescission of composition ex officio:

1. If the offerer of composition withdraws the offer prior to the passage of composition; or
2. If the composition has not been passed within two (2) months from the first fixed date of the meeting of creditors.

Article 64 (Cases where Composition may be Rescinded)

In cases falling under any of the following subparagraphs, the court may decide the rescission of composition ex officio or upon the request of the administrator or the liquidation commissioner. In such cases the debtor shall be examined:

1. If the orders of the court under the provisions of Article 20 (1) and (2) have been violated;
2. If the creditor has violated the provisions of Article 31, or 32 (1) and (2); or
3. If the debtor has paid and received money for himself despite the fact that the application under the provisions of Article 34 has been filed.

Article 65 (Public Notification of Rescission of Composition)

In cases where the court has decided the rescission of composition, the court shall notify publicly the judgement and the abstract of reasoning.