Article 2.9.2 Cases

(a) Commencement

(i) Voluntary cases are commenced by a Debtor petitioning the Court for the Debtor’s liquidation or reorganization. Involuntary cases are commenced by a Creditor petitioning the Court for a Debtor’s liquidation or reorganization.

(ii) Any Petition accepted by the Court shall create a separate estate for the satisfaction of Claims. Such estate shall be known as the Bankruptcy Estate.

(b) Bankruptcy Procedures

(i) Reorganization modifies Claims and allows any business operations to continue under a plan approved by the Court. The Court may convert a Reorganization to a Liquidation upon determination that the Reorganization is not feasible.

(ii) Liquidation winds up any business operations and disposes of the entire Bankruptcy Estate with the proceeds used to satisfy Claims.

(c) Administration

(i) For any entity representing the Debtor, the Court may cancel any compensation that exceeds the reasonable value of any such services.

(ii) The Bankruptcy Estate shall be managed by a Trustee agreed to by all interested parties or designated by the Court.

(iii) Trustees shall act in the best interests of the beneficiaries of the Bankruptcy Estate.

(iv) The Court may discharge and replace any Trustee, with or without cause, when the Court determines that it is in the best interest of the Bankruptcy Estate beneficiaries to do so.

(v) Trustees shall serve until the closure of the Case or until otherwise discharged by the ICT court.

(d) Closure

(i) After a Bankruptcy Estate is fully administered and the Court has discharged the Trustee, the Court shall close the Case.

(ii) A Case may be reopened in the Court in which such Case was closed to administer assets, to accord relief to the Debtor, or for other cause.

(e) Dismissal

(i) The Court may dismiss a Case upon Petition from all interested parties or upon finding cause to do so.

(ii) Unless the Court, for cause, orders otherwise, the dismissal of a Case does not prevent debts that were dischargeable in the Case dismissed from being dismissed in a future proceeding; nor does dismissal of a Case prejudice the Debtor with regard to the filing of a subsequent Petition.

(iii) Unless the Court, for cause, orders otherwise, any voluntary Petition filed less than 7 years from the filing of a previous Petition by the same Debtor shall be dismissed.