Corporate creditors are required to approve a plan of merger or consolidation, or a share exchange.

Question

Corporate creditors are required to approve a plan of merger or consolidation, or a share exchange.​

Quizplus · Accepted Answer

Corporate creditors are not required to approve a plan of merger or consolidation or a share exchange. Their approval is only required if the plan affects their rights, such as if a creditor is receiving shares or if their debts are being impacted. In such cases, the creditors must vote on the plan and approve it for it to be effective. However, if the plan does not affect the creditors' rights, their approval is not required.

Corporate Creditors Are Required to Approve a Plan of Merger