Q: chapter 11 Bankruptcy, small business with a single creditor,
I will have no consenting class, Will it be impossible to get a cram down? his nonsecured class will get nothing, his secured class will get chapter 7 value, the secured collateral is not worth as much as the debt, so the creditor will object on the both secure and the non secured class.
A:
I'm in SE Pennsylvania, and my district, your case would be kicked out of bankruptcy court inasmuch as its a dispute between only two parties, your business and the one creditor.
And even if you could somehow get over that hump, you'd still need at least one class of impaired claims voting in favor of your plan. That's a Code requirement, so your plan cannot be confirmed without the consenting impaired class.
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