Section 409
Dismissal of application for judicial management order
ActIn forceProvision 409 of 768
Section 409
Subject to subsection 405(5), the Court shall dismiss an application for a judicial management order if it is satisfied that—
Companies 405
(a)
a receiver or receiver and manager referred to in subparagraph 408(1)(b)(ii) has been or will be appointed; or
(b)
the making of the order is opposed by a secured creditor.