Voting eligibility of creditors limited where claims are unliquidated or secured by negotiable instruments, subject to security election. Creditors may not vote on claims that are unliquidated, contingent, unascertained, or secured by a current bill of exchange or promissory note unless they elect to treat antecedent liabilities of prior parties on the instrument as a security, estimate its value, and deduct that estimated value from their proof for voting purposes only.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Voting eligibility of creditors limited where claims are unliquidated or secured by negotiable instruments, subject to security election.
Creditors may not vote on claims that are unliquidated, contingent, unascertained, or secured by a current bill of exchange or promissory note unless they elect to treat antecedent liabilities of prior parties on the instrument as a security, estimate its value, and deduct that estimated value from their proof for voting purposes only.
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