In Order to Gain Creditor (As Opposed to Court) Approval

question 45

Multiple Choice

In order to gain creditor (as opposed to court) approval for a proposal under the Bankruptcy and Insolvency Act, a proposal must command

• A) only the support of a majority of secured creditors.
• B) at least two- thirds of creditors.
• C) the support of a majority of creditors in each class representing at least two- thirds of the face value of the debtor's debt in that class.
• D) a bare majority of all creditors in every class, plus the support of all secured creditors.
• E) an absolute majority of all creditors in every class, plus the support of all secured creditors.

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Definitions:

Rupture

The breaking or bursting of a structure or organ.

Rhinorrhea

The medical term for a condition where there is an excessive discharge of mucus from the nose, often referred to as a runny nose.

Flow

Refers broadly to the movement of a fluid or the process of moving in a steady and continuous manner.

Presbycusis

Age-related hearing loss, a gradual loss of hearing in both ears associated with aging.