(1) The insolvency court is to appoint a provisional creditors’ committee in accordance with section 21 (2) no. 1a if the debtor satisfied at least two out of the three following criteria in the previous business year:
1. A minimum balance sheet total of 6,000,000 euros after deduction of an amount entered erroneously on the asset side within the meaning of section 268 (3) of the Commercial Code (Handelsgesetzbuch);
2. A minimum of 12,000,000 euros sales revenues in the 12 months prior to the balance sheet date;
3. At least 50 employees on an annual average.
(2) At the request of the debtor, of the provisional insolvency administrator or of a creditor, the court is, as a rule, to appoint a provisional creditors’ committee in accordance with section 21 (2) no. 1a where the names are put forward of persons who may be considered for membership of the provisional creditors’ committee and the declarations of consent of the persons named are enclosed with the request.
(3) A provisional creditors’ committee is not to be established if the debtor’s business has been discontinued, if the appointment of a provisional creditors’ committee is disproportionate in view of the expected insolvency estate or if the delay arising on account of its appointment leads to a detrimental change in the debtor’s financial status.
(4) Upon being requested to do so by the court, the debtor or the provisional insolvency administrator is to put forward the names of persons who may be considered for membership of the provisional creditors’ committee.