Section 66. Confirmation of the Rehabilitation Plan. — The court shall issue an order confirming the Rehabilitation Plan in any of the following instances:
no objections are filed within the twenty (20)-day period from receipt of notice from the court that a Rehabilitation Plan has been submitted to court;
the court finds the objections lacking in merit;
the basis for the objection has been cured; or
the debtor has complied with the order to cure the objection.
The court may confirm the Rehabilitation Plan notwithstanding unresolved disputes over claims if the Rehabilitation Plan has made adequate provisions for paying such claims.
Notwithstanding the first paragraph of this Section, if the court finds that there is no substantial likelihood that the debtor can be rehabilitated, it shall not confirm the Rehabilitation Plan and, instead, declare a failure of rehabilitation in accordance with Section 73 of this Rule.
The provisions of other laws to the contrary notwithstanding, the court shall have the power to approve or implement the Rehabilitation Plan despite the lack of approval, or objection from the owners, partners or stockholders of the insolvent debtor: provided, that the terms thereof are necessary to restore the financial well-being and viability of the insolvent debtor.
The order confirming the Rehabilitation Plan shall specify the portions approved by the court and the portions rejected during consideration or cured by the rehabilitation receiver.