A plan of reorganization classifies creditors and equity holders into groups sharing substantially similar legal rights, describes how each class will be treated, and, if it impairs a class's rights, requires that class to vote on the plan after receiving a court-approved disclosure statement containing adequate information to make an informed decision. Confirmation requires satisfying a list of statutory requirements under Section 1129(a), including that the plan was proposed in good faith, is feasible, and gives each dissenting creditor at least as much as it would receive in a hypothetical Chapter 7 liquidation.

Voting occurs by class: a class accepts the plan if creditors holding at least two-thirds in amount and more than one-half in number of the claims that actually vote approve it. A plan can be confirmed even if not every class accepts, either because unimpaired classes are deemed to accept, or through the cramdown mechanism, which allows confirmation over a dissenting class's objection if the plan is fair and equitable and does not discriminate unfairly against that class.

Because Chapter 11 confirmation depends on coordinated approval across multiple creditor and equity classes with different, sometimes competing, interests, Juricratic models plan negotiation as a multi-party coalition problem rather than a single bilateral negotiation, letting a user simulate how the minimum terms needed to secure each class's acceptance interact with the alternative of forcing the plan through cramdown against a holdout class.

Debtor's counsel structuring a plan works backward from each class's likely voting threshold to design treatment terms that will secure the needed acceptance without over-conceding value, while a creditor evaluating whether to accept or fight a proposed plan compares its proposed recovery against both the plan's cramdown alternative and the liquidation baseline required by the best-interests test.