This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: In a ________, some action the debtor takes, whether innocent or fraudulent, may cause a particular ... (Read 183 times)

debasdf

  • Hero Member
  • *****
  • Posts: 570
on: Aug 2, 2018
In a ________, some action the debtor takes, whether innocent or fraudulent, may cause a particular debt or all debts to become nondischargeable prior to the conclusion of the bankruptcy case.
 
  A) Revocation case
  B) Relenting discharge
  C) Recalcitrant discharge
  D) Denial of discharge

Question 2

When might a business decide to convert or be compelled to convert from a Chapter 11 case to a Chapter 7 case?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

courtney_bruh

  • Sr. Member
  • ****
  • Posts: 308
Reply #1 on: Aug 2, 2018
Answer to Question 1

D

Answer to Question 2

A conversion from Chapter 11 to Chapter 7 involves changing from reorganization to liquidation. A Chapter 11 debtor may convert to Chapter 7 liquidation if Chapter 11 was filed as a voluntary petition and the debtor is a DIP. This conversion makes sense if assets are diminishing. Creditors, for example, may have motioned the court to lift the Automatic Stay, resulting in a seizure of property. A situation may arise as it did in the Hostess bankruptcy case when the company claimed that it would be unable to reorganize unless it obtained concessions from the union in the form of cuts to wages and pension benefits. Substantial postpetition taxes and attorneys' fees may also serve to decrease the possibility of reorganization. Involuntary bankruptcies, either initially filed by creditors to force a debtor into bankruptcy or as a conversion, may be converted from a Chapter 11 to a Chapter 7 for cause. An example of cause to support an involuntary conversion from Chapter 11 to Chapter 7 is the unlikelihood that the debtor will be able to make payments under the reorganization plan and rehabilitate its business affairs.


debasdf

  • Member
  • Posts: 570
Reply 2 on: Aug 2, 2018
Great answer, keep it coming :)

JCABRERA33

  • Member
  • Posts: 344
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

Oliver Wendell Holmes is credited with introducing the words "anesthesia" and "anesthetic" into the English language in 1846.

Did you know?

ACTH levels are normally highest in the early morning (between 6 and 8 A.M.) and lowest in the evening (between 6 and 11 P.M.). Therefore, a doctor who suspects abnormal levels looks for low ACTH in the morning and high ACTH in the evening.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

A fixed action pattern as an example of innate behaviour. A fixed action pattern as an example of innate behaviour.
Primary Action of Epinephrine in a Liver Cell Primary Action of Epinephrine in a Liver Cell
Action of Satiety Signals on Hypothalamic Neurons Involved in Control of Hunger and Satiety Action of Satiety Signals on Hypothalamic Neurons Involved in Control of Hunger and Satiety
Action! Children love to talk about the actions of adults and animals, which provides a natural way ... Action! Children love to talk about the actions of adults and animals, which provides a natural way ...
The two mechanisms for terminating neurotransmitter action in the synapse: reuptake and enzymatic ... The two mechanisms for terminating neurotransmitter action in the synapse: reuptake and enzymatic ...
Sites of action of some respiratory inhibitors and artificial electron acceptors Sites of action of some respiratory inhibitors and artificial electron acceptors
Video: Role of complement proteins

For a complete list of videos, visit our video library