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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Module 1 Assignment_...
The topic that I have chosen to explore is globalization: Focusing on the act of prohibiting the importation of the slaves. What I already know about slavery in the United States; there...

Module 1 Assignment
Module 1 Assignment

The topic that I have chosen to explore is globali

essay 3_1638946406.d...
Is verbal communication the best way to communicate? Though the answer is retroic but the anwer to this would be clear by the end of this essay. The first thing two unknown person do is greet with a...

Essay 3
Essay 3

Is verbal communication the best way to communicat

Discussion 4_1653119...
One of the aspects that can be comprehended by reading the excerpts from Booker T Washington’s, Up from Slavery is the dignity of labor. Washington believed that Black Americans of that era had formed...

Discussion 4
Discussion 4

One of the aspects that can be comprehended by rea

Ch31 Bankruptcy 1 assignment

Ch31 Bankruptcy 1 assignment

Q 1) What is the main difference between a Liquidation proceeding under Ch 7 of the bankruptcy code and a Reorganization under Ch 11 of the Bankruptcy Code? 2) What is the main difference between a voluntary bankruptcy and an involuntary bankruptcy? How can an involuntary bankruptcy be accomplished? 3) Can any debtor simply choose whether to go for a Liquidation bankruptcy or a Reorganization? Which type of bankruptcy is preferred by most debtors? How is it determined? 4) Explain the concept of the Automatic Stay? 5) Explain the concept of the 3 main powers of trustees in bankruptcy?

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In case of a liquidation proceeding under Chapter 7 of the bankruptcy code and in case of a Reorganization under Ch 11 of the Bankruptcy Code, there are different ways of settling debts (Clarkson, Miller & Cross, 2016). The ways of liquidating assets are also different in case of such a liquidation and a reorganization. The application of Chapter 7 comes when the stage of reorganization has already been overcome by the company. There have been settlements of debts to creditors by the debtors according to the loaned amounts. There is the appointment of a trustee to ensure that the secured assets have been sold. The secured creditors also have to be repaid and the trustee is appointed for this purpose also.