Practice question
All adversely affected classes approve under Section 64. An entirely unaffected class objects and says its rejection necessarily makes ordinary creditor approval impossible. Which is correct?
- Every class without exception has an automatic veto
- The statutory ordinary-approval rule concerns classes whose rights are adversely modified or affected
- Only unaffected classes may vote
- The court must cancel all claims
- The debtor may now ignore court confirmation
Legal references
- RA 10142 (FRIA), Sections 4, 7, 9, 17-18, 31-35, 64-70 and 115-121: https://lawphil.net/statutes/repacts/ra2010/ra_10142_2010.html
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