1/ A dissenting creditor may appeal against the judgment confirming the reorganization plan or the judgment confirming the sale of the business as a going-concern.
2/ The debtor may appeal against the judgment rejecting the reorganization plan or the judgment rejecting the sale of the business as a going-concern.
3/ Contracting parties to transferred contracts may appeal against the judgment confirming the sale of the business as a going-concern but only with respect to the transfer of such contracts.
4/ The debtor, the supervisor in reorganization and all the parties to the proceedings shall be notified of the appeal.
5/ An appeal against a decision confirming the reorganization plan shall not result in the suspension of the execution of that plan.
6/ Where an appeal against the reorganization plan is upheld, the Court may either:
a) set aside the restructuring plan in case of manifest violation of the procedure or violation of the “best interest of creditors’ test”, as the case may be; or
b) confirm the plan and grant compensation to the
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Structural division: BOOK THREE › party › CHAPTER SEVEN
Article 697 — Appeal
New Ethiopian Commercial Code Proclamation No. 1243 2021 English Version