Answer:
In a Chapter 11 bankruptcy, a class of creditors is considered to have accepted the bankruptcy plan when:
one-half of the class in number and two-thirds of the class in dollar amount agree.
Step-by-step explanation:
In a Chapter 7 bankruptcy, the business assets are liquidated to pay the creditors. In a Chapter 11 bankruptcy, the business assets are not liquidated. Instead, the business is refinanced as the assets and debts are reorganized, making it possible for the continued existence of the business. This is the reason the agreement of the creditors are usually paramount in the decision to undergo a Chapter 11 bankruptcy, unlike a Chapter 7 bankruptcy.