In Order to Gain Creditor (As Opposed to Court) Approval

Multiple Choice

In order to gain creditor (as opposed to court) approval for a proposal under the Bankruptcy and Insolvency Act, a proposal must command

A) a bare majority of all creditors in every class, plus the support of all secured creditors.
B) only the support of a majority of secured creditors.
C) the support of a majority of voting creditors in each class representing at least two-thirds of the face value of the debtor's debt in that class.
D) an absolute majority of all creditors in every class, plus the support of all secured creditors.
E) at least two-thirds of creditors.