- The ability of the bankruptcy court to confirm a plan of reorganization over the objections of some classes of creditors. The New York Times Financial Glossary
* * *cramdown cram‧down [ˈkræmdaʊn] noun [countable]FINANCE LAW when a company that is bankrupt asks a court of law to decide how its creditor S (= people or companies who are owed money ) should be paid, rather than trying to reach an agreement with them:
• The board will attempt to use cramdown procedures in court to impose the original repayment plan on shareholders.
* * *cramdown UK US (US► LAW a court's approval of a bankrupt company's plan to pay its debts, that is given even if the people or companies that are owed money (= the creditors) do not approve: »
If creditors reject a repayment plan, the bankruptcy judge can force it on them anyway - a process inelegantly known as a ""cram-down.""
Financial and business terms. 2012.
Look at other dictionaries:
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cramdown — confirmation of a plan of reorganization over the objections of one or more classes of creditors (Glossary of Common Bankruptcy Terms) The action by which the court may order a plan approved over the negative vote of a class of dissenting… … Glossary of Bankruptcy
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cramdown — The ability of the bankruptcy court to confirm a plan of reorganization over the objections of some classes of creditors. Bloomberg Financial Dictionary * * * cramdown cram‧down [ˈkræmdaʊn] noun [countable] FINANCE LAW … Financial and business terms
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crammed down — USA cramdown, Also known as crammed down. The mechanism by which a court may confirm (confirmation) a Chapter 11 plan of reorganization over the objections of a dissenting class of creditors, if the plan: • Has been accepted by at least one … Law dictionary