Cap. 631 чл. 44Renegotiation of rejected restructuring plan.

(1) Where the Court rejects a restructuring plan, it may propose amendments to the restructuring plan to the officials of the debtor and the affected parties, indicating the Court’s readiness to confirm the plan should those amendments be approved by a separate vote of the affected parties held in accordance with articles 41 or 42.

(2) Upon rejection of a restructuring plan, the officials of the debtor may, in consultation with the insolvency practitioner and otherwise in terms of this Act, formulate a new, or revised, restructuring plan prepared in accordance with the requirements of the Second Schedule, to be submitted for adoption by the affected parties.

(3) Any preventive restructuring order issued by the Court shall continue to apply until the automatic or pre-emptive termination thereof in terms of this Act, and any right to request an extension of the preventive restructuring order may be duly exercised by the competent party.