(1) Insolvency creditors with determined claims which were not contested by the debtor at the verification meeting may execute under an approved and final insolvency plan in connection with entry in the schedule against the debtor as under a judgment declared executable. A claim in respect of which an objection has been raised and overruled is deemed equivalent to a claim which has not been contested. Section 202 applies accordingly.
(2) The same applies to execution against a third party which, by a written statement submitted to the insolvency court without reserving the beneficium excussionis, has taken on responsibility together with the debtor for performance of the plan by the latter.
(3) Creditors who invoke their rights in the case of considerable default on the part of the debtor in respect of performance of the plan are required to show to the satisfaction of the court the reminder and the expiry of the grace period, but must prove no other facts constituting the default on the part of the debtor in order to receive an execution clause for such rights and to initiate such execution.