Courts Do Not Depart from Precedents.​

question 5

True/False

Courts do not depart from precedents.​

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Definitions:

Cram Down

When the court forces dissenting creditors whose claims would be impaired by a proposed plan to accept the plan when the court can find that it is fair and equitable to the class of creditors whose claims are impaired.

Reorganization Plan

A document detailing the process of reconfiguring a company's structure and operations, typically as part of bankruptcy proceedings.

Chapter 11

A provision under the U.S. Bankruptcy Code that allows for reorganization under the bankruptcy laws of the United States.

Reorganizations

A process designed to revive a financially troubled or bankrupt company.