What are the essential components of a chapter 11 case?
Central to the reorganization process is the filing of a disclosure statement and the confirming of a plan of reorganization. The plan must be sent to all creditors entitled to vote, and will be confirmed if the debtor obtains at least at least 51% of all the votes cast, and 67% of the total amount of the claims of impaired creditors who vote. If there is only one class of impaired creditors, and only one vote is cast, the plan will be confirmed by 100% of the votes cast and 100% of the amount of the claims held by voting creditors.
