Once a voluntary liquidation proceeding under Chapter 7 is filed, the debtor's prepetition assets form the ________.

A) Corpus
B) Remainder
C) Residual estate
D) Bankruptcy estate
E) Relinquished asset pool

Voluntary Liquidation

The process initiated by a company's directors to voluntarily close down the business, sell its assets, and use the proceeds to pay off creditors before any remaining surplus is distributed to the shareholders.

Bankruptcy Estate

All legal or equitable interests of the debtor in property at the time of the bankruptcy filing, including all assets.

Prepetition Assets

Assets that an individual or entity possesses before filing for bankruptcy protection.