(1) Creditors with a right to separate satisfaction are required to prove to the insolvency administrator, at the latest within the limitation period under section 189 (1), that and for which amount they have waived separate satisfaction or their claim was not met by such separate satisfaction. If proof is not provided in good time, the claim is not taken into account during distribution.
(2) Creditors are deemed to have met their obligation under subsection (1) in order to share in advance distribution if they prove to the insolvency administrator, at the latest within such limitation period, that realisation of the object subject to a right to separate satisfaction is being initiated, and which amount of their claim is likely not to be satisfied. In such a case the share covering the amount of their claim is retained during distribution. If the conditions under subsection (1) are not met at final distribution, the retained share is free to flow into the final distribution.
(3) If only the insolvency administrator is entitled to realise an object subject to a right to separate satisfaction, subsections (1) and (2) do not apply. In the case of advance distribution, if the administrator has not yet realised the object, he or she is to estimate the extent to which the creditor’s claim will not be met by separate satisfaction and retain the share covering such claim.