Bankruptcy Forms: Filing Bankruptcy Chapter 7 Bankruptcy Software Chapter 13

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TITLE 11–BANKRUPTCY

CHAPTER 11– REORGANIZATION

Sub Chapter II – The Plan

Sec. 1122. Classification of claims or interests

    (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.

(Pub. L. 95-598, Nov. 6, 1978, 92 Stat. 2631.)


                      Historical and Revision Notes

                        senate report no. 95-989

    This section codifies current case law surrounding the 
classification of claims and equity securities. It requires 
classification based on the nature of the claims or interests 
classified, and permits inclusion of claims or interests in a particular 
class only if the claim or interest being included is substantially 
similar to the other claims or interests of the class.
    Subsection (b), also a codification of existing practice, contains 
an exception. The 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.

                  Section Referred to in Other Sections

    This section is referred to in sections 901, 1123, 1127, 1222, 1322 
of this title.


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Note: For affordable legal assistance The Center For Debt Management highly recommends Standard Legal's Do-It-Yourself Bankruptcy Forms Software Kits. For credit repair services,
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For more bankruptcy help and bankruptcy alternatives, go to Bankruptcy Resources

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Legal Resource Center: United States Code TITLE 11 Filing Bankruptcy Forms Software