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Part 6 · Insolvency plan  ›  Division 3 · Effects of approved plan. Monitoring implementation of plan › Section 261

Tasks and rights of insolvency administrator

(1) The task of monitoring falls to the insolvency administrator. The offices of the administrator and of the members of the creditors’ committee, as well as the supervision of the court continue for such purpose. Section 22 (3) applies accordingly.

(2) During the period of monitoring the administrator is required to report each year to the creditors’ committee, if one has been appointed, and to the court on progress made and further expectations regarding performance of the insolvency plan. This reporting obligation leaves unaffected the right of the creditors’ committee and of the court to demand specific information or an interim report at any time.

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