Another Div 1 Proposal question
August 23rd, 2006 by Questions
Thankyou for your reply preveously, it makes me feel better every day being clean, and starting a new life to rebuild.
I have noticed in preveous blog reading that a consumer proposal is generaly accepted \”easier\”, than a division 1 proposal may be accepted. I realize passing votes, etc. are different. But what comes to my mind, should that filing of a division 1 proposal be rejected, the person is automaticaly bankrupt. Add in the mix that the Div 1 proposal would offer quite drasticly more money than a bankruptcy. Does this reason that a div 1 proposal, with a bankruptcy in place should it be rejected, put a lot of pressure to creditors to find their best interests.