Approval of resolution plan: higher-scored plan after iterative tick-size improvements qualifies for committee consideration under pre-pack process Approval of resolution plan requires the committee to consider a plan that is significantly better than the base resolution plan; absent compliant plans the base plan may be considered. Where competing plans exist, the resolution professional discloses scores and invites iterative improvements: the lower-scored submitter then the other submitter alternately may improve by at least one tick size until one fails to act, within a forty-eight-hour time-window, and the higher-scored plan after improvement is considered for approval.
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.
Approval of resolution plan: higher-scored plan after iterative tick-size improvements qualifies for committee consideration under pre-pack process
Approval of resolution plan requires the committee to consider a plan that is significantly better than the base resolution plan; absent compliant plans the base plan may be considered. Where competing plans exist, the resolution professional discloses scores and invites iterative improvements: the lower-scored submitter then the other submitter alternately may improve by at least one tick size until one fails to act, within a forty-eight-hour time-window, and the higher-scored plan after improvement is considered for approval.
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