So P's and K's vote is completely worthless then...perfect (unless you know something different). I'm trying to find law in my outlines that says all classes must be approved but I can't. I found law that would lump the P's and K's vote together b/c they are substantially similar in their interests, but I can't find anything about having one impaired class approve and another disapprove. If I was Susman I would argue that H's shouldn't get a vote since there is a probability that pref's will get paid while the absolute priority rule is adhered to (inferring there's enough money to make H's whole).
Have you found anything that I'm looking for?
FYI: BK code 1126(e) talks about the voting and the procedures being in good faith. As you know, many can make a strong argument against the good faith of the debtors (that they acted in bad faith) in deriving the opt-out plan, the oddly confusing way the ballots were effectuated, and that the timing of having to vote (many given less than 48 hours) are all in bad faith causing undue hardship to the voters.
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