Which of the Following Is True Regarding the Number of Creditors

question 2

Multiple Choice

Which of the following is true regarding the number of creditors who must vote to accept a reorganization plan under a Chapter 11 proceeding?

• A) For the plan to be accepted, one-third of the class of unsecured creditors must vote to approve it.
• B) For the plan to be accepted, one-half of the class of secured creditors must vote to approve it.
• C) For the plan to be accepted, two-thirds of the creditors of each class of creditors must vote to approve it.
• D) For the plan to be accepted, three-fourth of the creditors of each class of creditors must vote to approve it.
• E) For the plan to be accepted, one-fourth of the class of unsecured creditors must vote to approve it.

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Definitions:

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