Acceptance Process and Voting on a Plan

Summary

This practice note addresses the process for soliciting acceptances of a plan and voting on a plan. After a disclosure statement is approved by the court, the plan proponent distributes the plan and disclosure statement to all creditors and equity holders of the debtor. Along with the plan and disclosure statement, the proponent will include the appropriate ballot for each voting class. Those classes that are not entitled to vote may receive, in lieu of a ballot, a notice explaining why they are not being sent a ballot.