Shoe Sunshine, Inc filed for bankruptcy protection under Chapter 11 and submitted a plan of reorganization within 120 days after filing for relief. Two of the classes of creditors voted against the plan. However, the bankruptcy judge considered the plan to be reasonable, achievable, and fair, and approved it in spite of these creditors' objections. This action by the judge is called a "cramdown."
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Dana Klammer is the manager of the Cutting Department in the Northwest Division of Steel Products. Which of the following costs is a controllable cost?
a. Salaries of cutting machine workers b. Cost of electricity for the Northwest Division c. Lumber Department hauling costs d. Vice president's salary
What percentage of managers considered the right of employees to send and receive personal e-mails during working hours seriously unethical?
a. 39% b. 50% c. 56% d. 58%
The organization of business messages should be organized based on
a. a prediction of the receiver's reaction to the main idea. b. the deductive sequence. c. the inductive sequence. d. a reflection of the writer's mood and personality.
Employees should set aside their own personal value systems when making ethical decisions for their companies
Indicate whether the statement is true or false