But a Federal bankruptcy judge could approve the plan even if it is rejected by the shareholders.
But Federal bankruptcy judges have been known to make law firms choose between clients to avoid the appearance of conflicts.
A Federal bankruptcy judge in Richmond ruled last month that the claimants were entitled to $2.47 billion.
The plan must also be approved by a Federal bankruptcy judge.
In signing five orders, a Federal bankruptcy judge showed how involved he would be in the retailing operations.
A Federal bankruptcy judge last week gave Heck's permission to close 40 stores.
Earlier this week, a Federal bankruptcy judge issued an order that would have blocked the meeting for at least 90 days.
The deal must be approved by a Federal bankruptcy judge and a Federal district judge.
It is also subject to approval by Eastern's creditors and the Federal bankruptcy judge.
It now goes to a Federal bankruptcy judge, who is expected to approve it.