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worty [1.4K]
3 years ago
15

If I community creates it's own law what is it responsible for

Social Studies
2 answers:
kvv77 [185]3 years ago
7 0
The people and how it is managed
Troyanec [42]3 years ago
6 0
How the people follow it and must be followed. 

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____ bankruptcy temporarily relieves a company from its debts while it reorganizes and works out a payment plan with its credito
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According to the <u>Chapter 11 of the Bankruptcy Code</u> (the federal level law), bankruptcy temporarily relieves a company from its debts while it reorganizes and works out a payment plan with its creditors.

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If the company <em>chooses to continue its operation</em> and find a way out of the crisis, it would opt for Chapter 11. While all the major decisions would have to be approved by the bankruptcy court,  the company would be still allowed to continue its daily business activities and thus have a chance to become profitable. If the company opts for Chapter 7 of the Bankruptcy Code, it would have to cease its business operation completely.

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