14.3.3. If the Reorganization Plan Is Not Approved
If the plan is ultimately not approved for whatever reason, the court must decide how to proceed. Depending on why the plan failed to win approval, the court could let the parties work on a revised plan, replace a DIP with a bankruptcy trustee, convert the case into a Chapter 7 bankruptcy, or even dismiss the case altogether, taking the debtor out of bankruptcy with no resolution.
SAMPLE QUESTION
All of the following are true regarding the classes in a Chapter 11 reorganization plan, except:
A. Claims and interests cannot be grouped together in the same class.
B. Secured and unsecured claims cannot be grouped together in the same class.
C. Claims of the same priority may be represented by more than one class.
D. Two