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otez555 [7]
2 years ago
8

If a business that sells gidgits files for bankruptcy to liquidate all of its assets in order to repay its creditors, it is goin

g to file a Chapter 11 reorganization.
True
False​
Law
2 answers:
andre [41]2 years ago
6 0

Answer:true

Explanation:

neonofarm [45]2 years ago
3 0

Answer:

False, I'm pretty sure.

Explanation:

A Chapter 11 bankruptcy doesn't involve the business liquidating all of its assets; the business continues to operate and the debts are just reorganized. If they want to liquidate all of their assets, they should file a Chapter 7 bankruptcy, which is a lot less expensive anyway.

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