6- Pledges in the process of concordat: Protection and Sales

CONCORDATUM DECISION, PROCESSING AND SALES OF PLEDGED GOODS

At the request of the Borrower, the approval and sale of the pledged goods in the affirmation decision may be postponed under the following conditions, not exceeding one year from the decision.

. The pledge provided debt should be born before the concordatium process. Otherwise, it will be avoid by the commissare.
. There should be no unpaid interest of the receivable provided by the pledge until the concordatum declaration. Otherwise, the interests will not stop.
. The borrower should have proved approximately that the pledged property is mandatory for the operation of the enterprise and that its economic existence will be in jeopardy when it is converted into cash.
. In case of the retention of the pledged goods and postponement of its convertion to the money, the period of request for sale shall not be processed.

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