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argc

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argc

Re: climberprof post# 23752

Monday, 06/21/2010 11:57:59 AM

Monday, June 21, 2010 11:57:59 AM

Post# of 42851
Section 1129(a) of the Bankruptcy Code lists the requirements for confirmation, including:

the plan must be lawful and proposed in good faith;
impaired claims and interests who have rejected the plan must receive at least as much as they would have gotten under a Chapter 7 liquidation;

It's not about chapter 11 or 7, Preferred had to agree to take the haircut.
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