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Part 6 · Insolvency plan  ›  Division 1 · Establishment of plan › Section 232

Comments on plan

(1) If the insolvency plan is not refused, the insolvency court is required to forward it to the following for their comments, in particular for a comparative calculation:

1.  the creditors’ committee, if one has been appointed, the works council and the representative body for executive staff;

2.  the debtor if the insolvency administrator submitted the plan; and

3.  the administrator if the debtor submitted the plan.

(2) The court may also give the official representative body of industry, trade, the craft or of agriculture competent for the debtor or other expert organisations the opportunity to comment.

(3) The court sets the period for submission of the comments. The period is, as a rule, not to exceed two weeks.

(4) The court may already forward the plan as referred to in subsections (1) and (2), for comment, prior to the decision to be given in accordance with section 231. If a comment received in response thereto presents new facts on which the court wishes to base a decision to refuse the plan, then the court is required to forward the comments to the person or entity which submitted the plan and others entitled to submit comments in accordance with subsection (1) so that they may submit comments within a period of no more than one week.

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