Secured creditor voting rights limited by repayment plan; voting may suspend enforcement unless an affidavit separates unsecured portion. Secured creditors may participate and vote on repayment plans but a voting secured creditor forfeits the right to enforce security for the repayment plan period. A voting creditor who retains enforcement rights must file an affidavit limiting its vote to the unsecured portion and estimating that portion; such secured and unsecured parts are treated as separate debts. If a secured creditor does not vote yet the plan affects enforcement rights, the plan requires that creditor's concurrence.
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.
Secured creditor voting rights limited by repayment plan; voting may suspend enforcement unless an affidavit separates unsecured portion.
Secured creditors may participate and vote on repayment plans but a voting secured creditor forfeits the right to enforce security for the repayment plan period. A voting creditor who retains enforcement rights must file an affidavit limiting its vote to the unsecured portion and estimating that portion; such secured and unsecured parts are treated as separate debts. If a secured creditor does not vote yet the plan affects enforcement rights, the plan requires that creditor's concurrence.
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