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Part 6 · Insolvency plan  ›  Division 2 · Acceptance and approval of plan › Section 251

Protection of minorities

(1) At the request of one of the creditor’s or, if the debtor is not a natural person, a person with a participating interest in the debtor, approval of the insolvency plan is to be refused if

1.  the person filing the request opposed the plan in writing or for the records at the latest in the voting meeting, and

2.  the person filing the request is likely to be placed at a disadvantage by the plan compared with his or her situation without a plan; if the debtor is a natural person, section 245a applies accordingly.

(2) Such request is admissible only if the requesting party shows to the satisfaction of the court at the latest on the day of the voting meeting that they are likely to be placed at a disadvantage on account of the plan.

(3) The request is to be rejected if the constructive part provides for funds being made available in the event that a party to the proceedings shows to the satisfaction of the court that they will be placed at a disadvantage. Whether the party to the proceedings is to receive compensation from such funds is not a matter for the insolvency proceedings.

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