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Chapter Law Content

Chapter I General Provisions
Section V Creditors' Meeting
Article 38
If necessary, the court may convene the creditors' meeting on its own initiative.
When convening the creditors' meeting, the court shall predetermine the date, place and matters to be discussed at the meeting and shall publicly announce them within 5 days before the predetermined date.
Article 39
The creditors' meeting shall be directed by the court.
The supervisor or the administrator shall appear at the creditors' meeting.
Article 40
A creditor may appoint a proxy to attend the creditors' meeting on his/her behalf by producing a written power of attorney. However, the court may limit the total number of persons represented by a proxy to one-tenth of the number of the creditors declaring their rights.
Article 41
The debtor shall attend the creditors' meeting and shall reply to inquiries of the court, the supervisor, the administrator, or the creditor.