Art. 1162 III. Lapse of authority
1 The creditors’ meeting may revoke or modify the authority conferred on a representative at any time.
2 The authority of a representative appointed under the bond issue conditions may be revoked or modified at any time by resolution of the community of creditors with the consent of the borrower.
3 On application by a bond creditor or the borrower, the court may declare such authority extinguished for good cause.
4 Where the representative’s authority lapses for whatever reason, at the request of a bond creditor or the borrower, the court orders the measures necessary to protect the bond creditors and the borrower.