Which Statement Is False Regarding the Acceptance and Confirmation of a Reorganization

question 79

Multiple Choice

Which statement is false regarding the acceptance and confirmation of a reorganization plan?

• A) The plan must be voted on by the creditors and the stockholders of the company.
• B) A separate vote is required of each class of stockholders.
• C) Any class of creditors that is not damaged by a reorganization is assumed to have accepted the plan without voting.
• D) Even if creditors and stockholders approve of the plan, the court can reject the plan.
• E) Acceptance of the plan requires the approval of two-thirds in number of claims and one-half in dollar amount of creditors that cast votes.

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Definitions:

Flanders

A historical region now divided among Belgium, France, and the Netherlands, known for its flourishing art, commerce, and culture during the Middle Ages and Renaissance.

Holy Roman Empire

A multi-ethnic complex of territories in central Europe that developed during the early Middle Ages and lasted until its dissolution in 1806, ruled by the Holy Roman Emperor.

Burgundian Territories

Regions in Europe controlled by the Dukes of Burgundy during the Middle Ages, encompassing parts of modern-day France, Belgium, and the Netherlands.

Charles the Bold

A Duke of Burgundy known for his ambitious political and territorial goals, and his conflicts with neighbouring territories.