Which of the Following Is True Regarding the Number of Creditors

question 83

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

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