Article 315
(general rule on operation in bankruptcy proceedings)
Upon initiation of bankruptcy proceedings only such contracts shall be concluded or only such other operations or acts shall be carried out which are necessary for the management and realisation of the bankruptcy estate pursuant to Section 5.8 of this Act, unless otherwise provided for in Article 316 or 317 of this Act.
Article 316
(completion of necessary operations)
(1) Upon initiation of bankruptcy proceedings, the operations shall be completed which the debtor in bankruptcy started to carry out prior to initiation of bankruptcy proceedings, providing that the court permits completion of such operations.
(2) The court shall decide on the completion of operations referred to in the first paragraph of this Article on proposal by the administrator and on the basis of the opinion of the creditors' committee.
(3) The administrator shall make the proposal referred to in the second paragraph of this Article within one month following the initiation of bankruptcy proceedings.
(4) The court shall reject the proposal referred to in the second paragraph of this Article, lodged after the expiry of the time limit specified in the third paragraph of this Article.
(5) The court shall permit the completion of operations referred to in the first paragraph of this Article:
1. if such completion is necessary to prevent a reduction of the bankruptcy estate, and 2. if such completion does not cause a delay in the realisation of the bankruptcy estate and principle of limiting risks referred to in Article 228 of this Act is not violated.
(6) A resolution whereby the court decides on the proposal referred to in the second paragraph of this Article, shall be served to the administrator.
Article 317
(conditions for continuation of operation of the debtor in bankruptcy) (1) Upon the initiation of bankruptcy proceedings, the debtor in bankruptcy may resume the production or carrying out of other operations in relation to his activity (hereinafter referred to as: continuation of operation of the debtor in bankruptcy), providing that the court permits continuation of the operation of the debtor in bankruptcy.
(2) The court shall decide on the continuation of operation of the debtor in bankruptcy on proposal by the administrator and on the basis of the consent of the creditors' committee.
(3) The administrator shall present the petition referred to in the second paragraph of this Article within one month following the initiation of bankruptcy proceedings.
(4) The court shall reject the proposal referred to in the second paragraph of this Article lodged after the expiry of the time limit specified in the third paragraph of this Article.
(5) The proposal referred to in the second paragraph of this Article shall contain the reasons necessary for the administrator to assess that continuation of the operations of the debtor in bankruptcy shall result in more favourable conditions for the sale of assets of the debtor in bankruptcy which are used in such operations, as a business whole.
(6) The court shall permit the continuation of operation of the debtor in bankruptcy:
1. upon consent from the creditors' committee,
2. if more favourable conditions are reached for the sale of assets of the debtor in bankruptcy which are used in such operations, as a business whole, and
3. if the continuation of operations does not represent a breach of the principle of limitation of the risks referred to in Article 228 of this Act.
(7) By means of a resolution permitting the debtor in bankruptcy to continue his operations, the court shall order the administrator to, within one month following the issue of the resolution, make a proposal for the sale of assets of the debtor in bankruptcy which are used in such operations, as a business whole.
(8) The resolution of the court whereby the court decides on the proposal referred to in the second paragraph of this Article shall be served to the administrator.
Article 318
(special rules on continuation of operation of the debtor in bankruptcy) (1) The rules laid down in this Article shall apply if the debtor in bankruptcy continues operation pursuant to Article 317 of this Act.
(2) The administrator shall provide monthly reports on the operation of the debtor in bankruptcy as well as on the progress of the sale of assets of the debtor in bankruptcy which are used in such operating, as a business whole.
(3) The administrator shall attach to the report referred to in the second paragraph of this Article a monthly balance sheet and income statement.
(4) The administrator shall obtain the consent of the court in respect of each:
1. raise of loans or credits,
2. guarantee or surety for a bill of exchange given,
3. permission for the establishment of the right to separate settlement to the assets of the debtor in bankruptcy,
4. some other operations in relation to the continuation of the operations of the debtor in bankruptcy if so decided by the court issuing a resolution permitting the continuation of operation of the debtor in bankruptcy.
(5) The consent of the court on the execution of the operation referred to in the fourth paragraph of this Article shall, mutatis mutandis, be subject to the sixth paragraph of Article 317 of this Act.
Article 319
(suspension of further operations of the debtor in bankruptcy)
(1) The court shall decide that further operation of the debtor in bankruptcy shall be suspended:
1. if the administrator does not, within the time limit specified in the seventh paragraph of Article 317 of this Act, make a proposal for the sale of the assets of the debtor in bankruptcy which are used in such operations, as a business whole,
2. if, within one year following the administrator's proposal referred to in the seventh paragraph of Article 317 of this Act, the assets of the debtor in bankruptcy which are used in such operations, as a business whole have not been sold, or
3. if other circumstances occur on account of which further operations of the debtor in bankruptcy do not ensure the optimum conditions for the payment of creditors, or the principle of limiting risks is violated under Article 228 of this Act.
(2) The resolution referred to in the first paragraph of this Article shall be served on the administrator.