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The board of directors of the J'Hall Corporation wants to get approval from the company's creditors for a bankruptcy reorganization plan that has been proposed.
The board of directors of the J'Hall Corporation wants to get approval from the company's creditors for a bankruptcy reorganization plan that has been proposed. Which of the following is required for acceptance? Multiple choice question. Acceptance by each class of creditor requires approval by 2/3 in dollar amount and more than 1/2 in the number of claims that cast votes. Acceptance by each class of creditor requires approval by 2/3 in dollar amount and also more than 2/3 in the number of claims that cast votes. Acceptance by each class of creditor requires approval by 1/2 in dollar amount and also more than 1/2 in the number of claims that cast votes. Acceptance by each class of creditor requires approval by 1/2 in dollar amount and more than 2/3 in the number of claims that cast votes
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