cram-down
C2CEFR level
92/100Rarity: very rare
TechnicalRegister
Law noun
The court-sanctioned imposition of a restructuring plan on a dissenting class of creditors that has voted against it.
The senior lenders relied on the cram-down power to bind the junior noteholders who had rejected the scheme.
Business noun
Court confirmation of a restructuring plan over the objection of a dissenting creditor class.
The junior bondholders held out, but the judge approved a cram-down and wiped their recovery to pennies.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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