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11 U.S.C. § 1122 — Classification of claims or interests

submitted 48 years ago by Pub. L. 95-598 to r/title-11-BANKRUPTCY · 77 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section covers classification of claims or interests. It begins by providing that Except as provided in subsection (b) of this section, a plan may place a claim or an interest in a particular class only if such claim...

(a) Except as provided in subsection (b) of this section, a plan may place a claim or an interest in a particular class only if such claim or interest is substantially similar to the other claims or interests of such class. (b) A plan may designate a separate class of claims consisting only of every unsecured claim that is less than or reduced to an amount that the court approves as reasonable and necessary for administrative convenience.
the actual law source: uscode.house.gov ↗public domain
(a)

Except as provided in subsection (b) of this section, a plan may place a claim or an interest in a particular class only if such claim or interest is substantially similar to the other claims or interests of such class.

(b)

A plan may designate a separate class of claims consisting only of every unsecured claim that is less than or reduced to an amount that the court approves as reasonable and necessary for administrative convenience.

Source credit: (Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2631.)

history & why it existsrecord from the source credit
  • 1978Enacted · Pub. L. 95-598 · 92 Stat. 2631

A history note hasn’t been published yet. The record shows enactment by Pub. L. 95-598 on 1978-11-06.

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