Project

EU JudgeCo Principle 24 - Plan Binding on Participant

24.1. If a Plan of Reorganisation is adopted in a main insolvency proceeding and there is no parallel proceeding pending with respect to the debtor, the Plan should be final and binding upon the debtor and the creditors who participate in the main proceeding.

24.2. For this purpose, participation includes:

  1. Filing a claim;
  2. Voting on the Plan; or
  3. Accepting a distribution of money or property under the Plan.

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