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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (482785)5/22/2009 1:58:28 PM
From: TimF  Read Replies (1) | Respond to of 1573096
 
If a majority of the creditors don't like it, they can blackball the BK plan.

The majority of the creditors where railroaded in to the agreement by the government. Effectively the government is deciding for them.



To: tejek who wrote (482785)5/22/2009 2:54:31 PM
From: jlallen  Respond to of 1573096
 
If a majority of the creditors don't like it, they can blackball the BK plan. Apparently the majority are satisfied with the plan.

This is not necessarily true. The Court can approve a plan over the objections of creditors....cramdowns are not common but can occur.

J.


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