What happens if the creditors disapprove the liquidation and distribution plan?
In such a case, the Bankruptcy Court will assign the Unit, responsible for supervising the debtor under the regulatory authority, to make amendments to the plan within ten days. The Unit will consider the creditors' comments and the opinion of the Trustee to ensure that the common interest of the creditors is achieved. Alternatively, the Unit may submit an alternative plan within the specified time limit.