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Part 6 · Insolvency plan  ›  Division 3 · Effects of approved plan. Monitoring implementation of plan › Section 254a

Rights in objects. Other effects

(1) Where rights in objects are to be substantiated, changed, converted or revoked or shares in a private limited company are to be assigned, the declarations of intent of the parties in the insolvency plan are deemed to have been submitted in the prescribed form.

(2) Where the share or membership rights of those with a participating interest in the debtor are included in the plan (section 225a), the decisions of the shareholders which are included in the plan or other declarations of intent made by the parties to the proceedings are deemed to have been submitted in the prescribed form. Summons, announcements and other measures in the preparation of shareholder decisions required under company law are deemed to have been effected in the prescribed form. The insolvency administrator is authorised to make the necessary registrations with the competent register court.

(3) The same applies accordingly to formal obligations included in the plan based on a measure under subsection (1) or (2).

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