(1) Insolvency administrators are required to obtain the consent of the creditors’ committee if they intend to engage in transactions which are of particular importance to the insolvency proceedings. If no creditors’ committee has been appointed, they are to obtain the consent of the creditors’ assembly. If a creditors’ assembly which has been convened is without a quorum, consent is deemed to have been given; the creditors are to be informed of these consequences in the invitation to the creditors’ assembly.
(2) Consent under subsection (1) is, in particular, required
1. if such transaction purports to sell the enterprise, establishment, the entire stock, a part of real property to be realised by private sale, the debtor’s shares in another enterprise if such shares are intended to bring about a permanent affiliation to such other enterprise or the entitlement to receive recurring earnings;
2. if such transaction purports to enter into a loan contract with considerable burdens on the insolvency estate;
3. if such transaction purports to bring or join a court action amounting to a considerable value in dispute, to refuse the bringing of such action, or to negotiate a settlement or compromise to settle or avoid any such action.