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Part 4 · Management and disposal of insolvency estate  ›  Division 2 · Decision on realisation › Section 163

Sale of enterprise below value

(1) At the request of the debtor or of a majority of creditors qualifying under section 75 (1) no. 3 and after hearing the insolvency administrator, the insolvency court may order that the envisaged sale of the enterprise or establishment require the approval of the creditors’ assembly if the requesting party proves to the satisfaction of the court that a sale to another buyer would be more beneficial to the insolvency estate.

(2) If the requesting party has incurred costs for such request, that party is entitled to reimbursement of such costs by the insolvency estate as soon as the court makes its order.

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