Div 1 Proposal
March 3rd, 2008 by Questions
Lets say I have 10 Creditors – each one I owe 10K – that totals 100K owing. I offer .20 cents on dollar – Question – If only one creditor votes and the proposal is accepted – do the other creditors who did not vote – are they entitled to there share? What happens if they fail to put in a claim – do they receive anything from the proposal? And if not – would that mean that I would only have to pay the 20 cents on the dollar to the creditors who actually voted and put in a claim? Thanks.