Cram Down

"[...] cram down occurs when a plan of reorganisation proposed in relation to a debtor is implemented, even though an entire class of creditors votes against the plan. However [...] cram down of a class of creditors is only permitted where the court deems the plan to be fair and equitable to the dissenting class (and any more junior classes of creditors) and the claims of the dissenting class are to be paid in absolute priority to any more junior claims.

[...] cram down is used more generally to refer to the implementation of restructuring proposals, even though a minority group of creditors or shareholders has voted against them. Both a company voluntary arrangement and a scheme of arrangement can be used to cram down creditors or shareholders to push through a restructuring".

Source: https://uk.practicallaw.thomsonreuters.com/9-384-7322?transitionType=Default&contextData=(sc.Default)&firstPage=true