Asked by Billy Yeung on Apr 29, 2024
Verified
Which of the following is called straight bankruptcy?
A) Liquidation
B) Reorganization
C) Reformation
D) Rehabilitation
E) Non-liquidation
Straight Bankruptcy
A term sometimes used for Chapter 7 bankruptcy in the United States, where a debtor's assets are liquidated to pay off creditors.
- Contrast the various chapters of the Bankruptcy Code and their specific purposes.
Verified Answer
ZK
Zybrea KnightMay 04, 2024
Final Answer :
A
Explanation :
The most familiar type of bankruptcy proceeding is liquidation,which is sometimes called straight bankruptcy.
Learning Objectives
- Contrast the various chapters of the Bankruptcy Code and their specific purposes.
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