Subject to subsection 405(5), the Court shall dismiss an application for a judicial management order if it is satisfied that—
\(a\) a receiver or receiver and manager referred to in [_subparagraph 408\(1\)\(b\)\(ii\)_](section-408.-notice-of-application-for-judicial-management-order.md) has been or will be
appointed; and
\(b\) the making of the order is opposed by a secured creditor.