A debtor who anticipates not being able to pay his debts can request moratorium of payment (surseance van betaling) as stated in Article 204 of the Bankruptcy Decree. Moratorium of payment is a temporary procedure that is meant to improve the debtor’s financial situation through partial or entire payment of creditors; this may lead to a normal resumption of payments or to a court approved settlement. The Court of First Instance appoints an administrator (bewindvoerder), supervised by a supervisory judge. When payment of the debts proves to be illusory, the moratorium will be converted into a bankruptcy.