Practice question
At a properly constituted meeting, two-thirds of voting creditors support a proposal, but their claims represent only half the debtor’s total scheduled liabilities. Which is correct under section 97(d)?
- Headcount alone always suffices
- The proposal lacks the additional three-fifths-liability majority required
- Only the debtor’s preference matters
- Half is legally identical to three-fifths
- The commissioner may ignore the second requirement
Legal references
- https://lawphil.net/statutes/repacts/ra2010/ra_10142_2010.html — RA 10142, sections 94–102
Answer this question in flashcards to review your response and continue practicing.