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of <h1>Resolution plans must prioritize operational creditors over financial creditors under Regulation 38 requirements</h1> Regulation 38 establishes mandatory requirements for resolution plans under insolvency proceedings. Resolution plans must prioritize operational creditors over financial creditors in payment, with dissenting financial creditors receiving priority over those who voted in favor. Plans must include stakeholder impact statements, implementation timelines, management control provisions, and supervision mechanisms. They must demonstrate feasibility, viability, and the applicant's capability to implement. Plans cannot assign undisclosed avoidance transactions and must address default causes with proper approval timelines. Committees may establish monitoring committees for implementation oversight.
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