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  1. #1
    Join Date
    Feb 2008
    Posts
    4

    Default Unsecured Claim and Second Amended Joint Plan

    Hey Everybody,

    I have a question. i have an unsecured claim against my old company from when then filed chapter 11, the whole process has been bit a confusing. Recently I received papers on whether I want to Accept or Reject the second amended joint plan set forth by the Debtor. It also gives me a cash out option, which seems even more confusing.
    Its states that the plan is in the best interest of the creditors but I just dont know. Has anybody else went through this process? Did you reject the plan and receive more money?

    Thanks!
    Roger

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Unsecured Claim and Second Amended Joint Plan

    Generally speaking, by the time you reject the settlement proposal, litigate your claim, and try to make a recovery, you end up in the hole. Individual experiences may vary. You should talk this over with your lawyer.

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