Article 27 — Termination of the preparation phase

1. Member States shall provide that the preparation phase is limited in time. 2. Member States may provide that the preparation phase can be terminated where: (a) the debtor fails to provide the necessary assistance in accordance with Article 24(2); (b) the debtor fails to act with due diligence during the preparation phase; or (c) the preparation phase does not have any reasonable prospects of success.