Cap. 631 ст. 15Normal activities of the debtor and creditor participation.

(1) During the course of a preventive restructuring procedure, the debtor shall not, without the prior approval of the insolvency practitioner:

(a) terminate the employment of any employees of the debtor on the basis of redundancy;

(b) sell or in any way dispose of, or encumber by providing as security, any assets or property of the debtor; or

(c) enter into any long-term commitment:

Provided that for the purposes hereof, a long-term commitment shall mean any contractual commitment for a duration of longer than six (6) months:

Provided further that a contractual commitment that is entered into within the six (6) month period after the termination of a previous contractual commitment, shall be considered as a continuation of the previous contractual commitment if the obligations being contracted are substantially the same.

(2) At any time during the course of a preventive restructuring procedure, a creditor or creditors of the debtor, or an employee representative of the debtor’s employees, may request that the insolvency practitioner provide them with information regarding the activities being carried on by the debtor in the course of the preventive restructuring procedure, and the extent to which progress has been made on the negotiation of a restructuring plan.

(3) The insolvency practitioner, upon receipt of a request made in terms of sub-article (2), shall provide the requested information without undue delay to the person or persons having made the request, only if, and to the extent that, the provision of such information is, at the discretion of the insolvency practitioner, reasonable in view of the person’s interest in the preventive restructuring procedure, and only if the provision thereof would not be prejudicial to the preventive restructuring procedure.

(4) At any time during the course of a preventive restructuring procedure, the debtor, or the insolvency practitioner with the consent of the debtor, or both, may consult with any interested party, including any creditor or creditors or employee representative of the debtor’s employees, with respect to any proposed actions to be taken with the intention of restoring the debtor’s economic viability or negotiating a restructuring plan.