(a) is dissatisfied with the safeguards offered to creditors in the draft terms under Regulation 52(2)(s), and
(b) can credibly demonstrate that, due to the cross-border division, the satisfaction of the creditor's claim is at stake and that the creditor has not obtained adequate safeguards from the company in this regard,
the creditor may apply to the Court for adequate safeguards within 3 months of the relevant date.
(2) Any safeguards for creditors shall be conditional on the cross-border division taking effect in accordance with the effective date.
(3) Where a creditor of the dividing company does not obtain satisfaction from the company to which the liability is allocated, the other recipient companies, and in the case of a partial division or a division by separation, the dividing company, shall be jointly and severally liable with the company to which the liability is allocated for that obligation.
(4) However, the maximum amount of joint and several liabi
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