Article 14 Valuation by the judicial or administrative authority
United Kingdom
The judicial or administrative authority shall take a decision on the valuation of the debtor's business only where a restructuring plan is challenged by a dissenting affected party on the grounds of either:
an alleged failure to satisfy the best-interest-of-creditors test under point (6) of Article 2(1); or
an alleged breach of the conditions for a cross-class cram-down under point (ii) of Article 11(1)(b).
Member States shall ensure that, for the purpose of taking a decision on a valuation in accordance with paragraph 1, judicial or administrative authorities may appoint or hear properly qualified experts.
For the purposes of paragraph 1, Member States shall ensure that a dissenting affected party may lodge a challenge with the judicial or administrative authority called upon to confirm the restructuring plan.
Member States may provide that such a challenge can be lodged in the context of an appeal against a decision on the confirmation of a restructuring plan.