(1) The creditors, the debtor and, if the debtor is not a natural person, those persons with a participating interest in the debtor, may file an immediate appeal against the order approving or refusing to approve the insolvency plan.
(2) An immediate appeal against the approval is admissible only if the party filing the appeal
1. has objected to the plan in writing or for the records at the latest during the voting meeting,
2. has voted against the plan and
3. has shown to the satisfaction of the court that they are considerably worse off under the plan than without it and that this disadvantage cannot be compensated by means of payment from the funds referred to in section 251 (3); if the debtor is a natural person, section 245a applies accordingly.
(3) Subsection (2) no. 1 and 2 applies only if, when publishing the date of the meeting (section 235 (2)) and the summons to the meeting (section 235 (3)), special reference was made to the need to object and to reject the plan.
(4) At the request of the insolvency administrator, the regional court without delay dismisses the appeal if it appears to be preferential that the insolvency plan take effect as soon as possible because, to the unfettered satisfaction of the court, the disadvantages on account of a delay in enforcing the plan override the disadvantages for the party filing the appeal; there are no redress proceedings in accordance with section 572 (1) sentence 1 of the Code of Civil Procedure. This does not apply in the event of an especially serious statutory violation. If the court dismisses the appeal in accordance with sentence 1, the applicant is to be compensated from the insolvency estate for the damage arising on account of execution of the plan; the reversal of effects arising from the insolvency plan cannot be claimed as damages. The regional court which dismissed the immediate appeal has sole jurisdiction in regard to actions concerning the payment of compensation for damages in accordance with sentence 3.