P.R. Laws tit. 13, § 113k

2019-02-20 00:00:00+00
§ 113k. Affected debt entitled to vote

Subject to the petitioner’s right to deem a class to reject a plan, a class of claims of the petitioner is affected for purposes of voting under a plan unless, with respect to each claim of such class, the plan-

(a) Leaves unaffected the legal, equitable, and contractual rights to which such claim entitles the holder of such claim;

(b) pays such claim in full in cash; or

(c) notwithstanding any contractual provision or applicable law that entitles the holder of such claim to demand or receive accelerated payment of such claim after the occurrence of a default:

(1) Cures any such default that occurred before or after the filing of a petition under §§ 113-113nn of this title, other than a default of a kind that is not required to be cured or is unenforceable under this chapter or a default creating no money damages;

(2) reinstates the maturity of such claim as such maturity existed before such default;

(3) compensates the holder of such claim for any damages incurred as a result of any reasonable reliance by such holder on such contractual provision or such applicable law;

(4) if such claim arises from any failure to perform a nonmonetary obligation, compensates the holder of such claim for any actual pecuniary loss incurred by such holder as a result of such failure; and

(5) does not otherwise affect the legal, equitable, or contractual rights to which such claim entitles the holder of such claim.

History —June 28, 2014, No. 71, § 312.