TOKYO (Reuters) –Farallon Capital Management urged Toshiba Corp. (OTC) Corp Tuesday to obtain the legally required support from two-thirds its shareholders. The Japanese industrial conglomerate is continuing with a controversial plan of splitting in three.

Farallon US hedge fund, Toshiba’s third largest shareholder, has a stake greater than 6%. 3D Investment Partners is the second largest investor.

Toshiba now has nearly 30% ownership by foreign funds. Many of these funds appear to be against the plan. Setting the 66.6% threshold now may force the conglomerate out of its plans.

Farallon stated in a statement that “The separation plan with no shareholder trust would only achieve nothing but three distinct companies, each inheriting the same Toshiba issues,” Farallon added.

Toshiba will hold an extraordinary shareholder meeting to gather shareholder support for its plan to end the company’s existence by March 2024. The details of this meeting remain unclear. They will need to get support from shareholders in order for the plan to be continued.

Farallon demands that Toshiba move forward more than one year for a legal mandated vote. This requires backing by two-thirds shareholders. Officially the vote won’t be conducted until the 2023 annual shareholders’ meeting.

After a five month strategic review, the breakup plan was finalized last November. This followed years of accounting scandals, governance problems, and investor anxiety that saw Toshiba’s stock value drop more than half to $18 billion from its peak in 2000.