Appointment of Examiner for company debt restructuring

The companies Law Chapter 113 (article 202), regarding the appointment of examiner

With the amendments made to the Companies Law in 2015, the mechanism for restructuring companies' debts (Appointment of Examiner - Examinership) was established and regulated. This mechanism is activated by the submission of an application to the Court by the company, creditor or guarantor, to place the company under the protection of the Court and to prevent any actions against it and its guarantors. An Examiner is then appointed by the Court, who submits proposals for the restructuring of the company's debts, which, if accepted by the company's creditors and contributors, will be ratified by the Court and put into effect. This legislation makes special reference to the powers and obligations of the Examiners.