CITATION — REFERENCE ENTRY
chapter-11-plan-vote-two-thirds · us-courts-chapter-11-basics
- Citation
- us-courts-chapter-11-basics
- Claim ID
- chapter-11-plan-vote-two-thirds
- Assertion
- In U.S. Chapter 11, a class of impaired creditors accepts a reorganization plan if holders of at least two-thirds in amount and more than one-half in number of allowed claims vote yes; filing triggers an automatic stay on collection activity, and the debtor stays in control as a debtor in possession.
- Quote
at least two-thirds in amount and more than one-half in number of the allowed claims
- Quote language
- en
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