Cap. 631 Art. 17Selection of affected parties.

(1) The debtor may choose to exclude claims from the restructuring plan where it is evident that:

(a) the claims excluded from the restructuring plan would be reasonably expected to be settled in full, should the restructuring plan not be confirmed; or

(b) the exclusion is justified in the context of the economic realities of the debtor, particularly where the included debt is secured against assets of the debtor.

(2) The criteria used to justify the exclusion of any claims in terms of this article must be explained in sufficient detail within the restructuring plan and the Court must be satisfied that the proposed exclusion is compatible with the object and purpose of this article and would not result in unfair prejudice to any excluded creditor.

(3) All creditors in respect of claims that have not been excluded from the restructuring plan in terms of this article shall be deemed to be affected parties for the purposes of the restructuring plan and otherwise for the purposes of this Act.