Summary Of Balloting On Chapter 11 Plan {CSD 1151}

CSD 1151, SUMMARY OF BALLOTING ON CHAPTER 11 PLAN, this form is filed with the bankruptcy court that provides information about the results of voting by creditors and other parties on a proposed Chapter 11 reorganization plan. In a Chapter 11 bankruptcy case, the debtor proposes a plan to reorganize its business and repay creditors over time. This plan must be voted on by affected creditors and other parties, who have the opportunity to approve or reject the plan. The summary of balloting on Chapter 11 plan provides a report on the outcome of this voting process. The summary typically includes information on the number and percentage of votes cast in favor of and against the proposed plan, as well as the number of votes that were not cast or were deemed invalid. The summary may also provide details on which classes of creditors voted in favor or against the plan, and the value of claims held by those creditors. The summary of balloting on Chapter 11 plan is an important document in the bankruptcy process, as it helps the court to determine whether the proposed plan has received sufficient support from creditors and other parties to be confirmed. If the plan is confirmed, it becomes binding on all parties involved in the bankruptcy case. www.FormsWorkflow.com