03 Aug 2021
Can I Assign My Voting Rights?
You represent a creditor that entered into a pre-bankruptcy subordination agreement. In the subordination agreement, your client (the subordinated creditor) assigned to a senior creditor its right to vote on any Chapter 11 plan proposed for the borrower. Your client wants to know if the assignment is enforceable.
Related Content
- Intercreditor and Subordination Agreements Checklist
Use this checklist when representing parties to an intercreditor or subordination agreement in a workout or bankruptcy.
- Subordination and Recharacterization
See this practice note for a discussion on subordinating claims under Section 510 of the Bankruptcy Code.
- Acceptance Process and Voting on a Plan
Review this practice note to understand the process for soliciting acceptances of a plan and voting on a plan.
- Designating Votes on Chapter 11 Plan
See this practice note for a discussion on designating or disqualifying votes on a Chapter 11 plan.
Practical Guidance Updates
Featuring the latest updates from your Practical Guidance account.
- U.S. Bankruptcy Code Tolling Provision Applies in Chapter 15 Case to Extend Deadlines Under Foreign Bankruptcy Law
- Redemption in Chapter 7
- The Practical Guidance Journal Summer 2021 Edition
- Document alerts allow you to stay current on legal developments that affect your practice. Find out how to set up your document alerts.
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