Gidgits Galore supplies gidgits to a large retailer who decides to do an Out-of-Court Workout with its creditors in order to con

Question

3 years ago

11

Gidgits Galore supplies gidgits to a large retailer who decides to do an Out-of-Court Workout with its creditors in order to con

tinue its business operations. Gidgits Galore is an unsecured creditor. Gidgits Galore will prefer the Out-of-Court Workout to a Chapter 7 liquidation.
False
True

Law

2 answers:

Strike441 [17] · Answer 1 · 2022-05-17T23:38:29+03:00

<h2> ☞ANSWER☜ </h2>

<h3><u> </u><u> </u><u> </u><u> </u><u> </u><u> </u><u>FALSE</u></h3>

<h2> ☞EXPLANATION☜ </h2>

Gidgits Galore has borrowed $10,000 to buy new shelves to display its millennial version of the gidgit. The bank negotiated the use 1,000 gidgits as collateral and then filed a UCC-1 Financing Statement with the Register of Deeds where Gidgits Galore has its headquarters. The bank is an unsecured creditor.

andriy [413] · Answer 2 · 2022-05-17T21:20:46+03:00

andriy [413]3 years ago

6 0

Answer: False I Believe

Explanation:

Hope this helps you