(1) A request to discontinue insolvency proceedings pursuant to sections 212 or 213 is to be published. It is to be deposited with the registry of the court for the parties’ inspection; in the case referred to in section 213 it is to be accompanied by the creditors’ declarations of consent. The insolvency creditors may object to such a request in writing within one week after publication.
(2) Before deciding on the discontinuation of insolvency proceedings, the court is to hear the requesting party, the insolvency administrator and the creditors’ committee, if one has been appointed. If a creditor objects to such a request, that creditor is also to be heard.
(3) Prior to discontinuation, the administrator is required to settle any claims on the insolvency estate which have not been contested and to provide a security for claims which have been contested.