Plan Approval The Miller Chemical Company filed for reorganization under Chapter 11 of the Bankruptcy Code. One class of creditors included unsecured creditors who were owed $2,000 or less. A second class included unsecured creditors who were owed more than $2,000. The plan called for a complete repayment of all Class 1 creditors, according to the terms of their original contracts. This provision made Class 1 an unimpaired class. The Class 2 creditors would have a choice: They could receive either a 60 percent repayment on the date of confirmation or 100 percent repayment extended over four years. The extended repayment plan called for a 30 percent repayment on the date of confirmation and seven 10 percent payments at six-month intervals. More than one-half of the Class 2 creditors would have to approve the plan. In contrast, the Class 1 creditors had no approval rights, because Class 1 was unimpaired.