The creditor has the right to know the restructuring plan

The creditor has the right to know the restructuring plan

The adviser should make the restructuring plan available for review by any creditor who participates in the proceedings.

The adviser supervising the proceedings should have the plan ready even before the restructuring is opened. A creditor may request the advisor to make the document available, for example, in electronic form. If the advisor fails to do so, the court or the judge-commissioner may request that the restructuring advisor be obliged to make the plan available.

The restructuring plan is primarily information for the creditor. It should provide the creditor with a basis for assessing whether restructuring is feasible and has a chance of success. It should also serve as a basis for the creditor to determine whether or not it would benefit from supporting the restructuring.

When analyzing such a plan, one should first of all pay attention to the description of the company and its economic situation, as well as the company’s strategy and corrective measures. Also important is the schedule, which should be feasible and take into account the capabilities of the debtor. It is also worth paying attention to the description of methods and sources of financing and financial forecasts.



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