Res 1993-185 - Laserfiche WebLink

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I(,J-l , such filings. MY Claim as to which an obj action has been filed, and such objection is still pending on the voting da1:e, is not enti tIed to have its vote coWlted, Wlless the Bankruptcy Court temporarily allows the Claim. To have a claim temporarily allowed for voting purposes, the Creditor must file a motion with the court requesting temporary allowance. Such motion must be heard and determined by the Bankruptcy Court prior to the date and time established by the Bankruptcy Court to confirm the Plan. In addition, a Creditor's vote may be disregarded if the Bankruptcy Court determines that the Creditor's acceptance or rejection was not solicited or procured in good faith or in accordance with the provisions of the Bankruptcy Code. C. Definition of Impairment ~-~ Under Section 1124 of the Bankruptcy Code, a class of claims or equity interests is impaired Wlder a plan of reorganization Wlless, with respect to each claim or equity interest of such class, the plan: 1. leaves unaltered the legàl, equitable, and contractual rights of the holder of such claim or equity interest: or 2. notwithstanding any contractual provision or applicable law that entitles the holder of a claim or equity interest to receive accelerated payment of his claim or interest after the'occurrenc~ of a default: (a) cures any such default that occurred before or after the commencement of the case under the Bankruptcy Code, other than a default of a kind specified in Bankruptcy Gade § 365(b)(2); (b) reinstates the maturity of such claim or equity interest as it existed before the default: (c) compensates the holder of such claim or equity interest for damages incurred as a result of reasonable reliance on such contractual provision or applicable law: and (d) does not otherwise alter the legal, equitable, or contractual rights to which such claim or equity interest entitles the holder of such claim or equity interest; or I 3. provides that, on the effective date the holder of such claim or equity interest receives, on account of such claim or equity interest, cash, equal to: (a) with respect to a claim, the allowed amount of such claim; or (b) with respect to an equity interest, if applicable, the greater of: (1) any applicable fixed liquidation preference; or , - 15 - a-ZO1SS