A bankruptcy courts enforcement of a reorganization plan despite the objections of some creditors.
court confirmation of a Chapter 11 bankruptcy plan despite the opposition of certain creditors; under the Bankruptcy Code a court may confirm a plan, even if it has not been accepted by all classes of creditors, if the plan (1) has been accepted by at least one impaired class, (2) does not discriminate unfairly, and (3) is fair and equitable.
If the creditors do not approve a plan of reorganization, the court may still approve it, if the bankruptcy judge believes it is in the best interest of all parties. Normally a cramdown involves reducing a secured creditor's debt to the fair market value of the property, with the balance of the debt determined to be unsecured.