Understanding The Ch. 11 Acceptance Process

Law360, New York (August 14, 2013, 5:02 PM EDT) -- A plan proponent generally negotiates its proposed Chapter 11 plan with as many constituencies as possible before soliciting acceptances in order to achieve a consensual plan. While the debtor may not be able to obtain the support of all its constituencies at this stage, the debtor may seek to begin soliciting acceptances while it continues to negotiate with classes in order to gain momentum for the plan and increase the pressure on the stakeholders....

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