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A plan of reorganization formulated under Chapter 11 must be submitted to the creditors for acceptance and to the court for confirmation. Which of the
A plan of reorganization formulated under Chapter 11 must be submitted to the creditors for acceptance and to the court for confirmation. Which of the following is true? C) If no class of claims or interests accepts a plan, the court may nevertheless confirm it if the plan is in the best interests of the creditors. A) The effect of confirmation is to make the plan binding on all parties and to grant the debtor a discharge from claims not protected by the plan. B) A plan cannot be confirmed if any impaired class of claims or interests rejects it. D) A class that is not impaired is presumed to accept, but more than half of the claims in a class by amount must accept if the class is impaired
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