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Author Question: The terms bankruptcy and insolvency mean two different things. An insolvent person is defined as ... (Read 58 times)

vicotolentino

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on: Aug 7, 2021
The terms bankruptcy and insolvency mean two different things. An insolvent person is defined as someone unable to pay his or her bills as they become due. Bankruptcy, on the other hand, involves:
◦ a process that strips away privileged position of secured creditors with respect to assets taken as security and treats all creditors the same.
◦ a process that includes jail sentences to debtors for attempts to discharge inordinately high amount of debt.
◦ a process whereby a debtor's assets are actually transferred to an official who ultimately distributes them to the unpaid creditors.
◦ a process that is detailed in provincial bankruptcy laws across the country.
◦ a process which is intended to punish the debtor.
Legal Fundamentals for Canadian Business ¦ Yates ¦ 4th Edition
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Marked as best answer by vicotolentino on Aug 7, 2021

cclemon1

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Reply #1 on: Aug 7, 2021
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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vicotolentino

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Reply 2 on: Aug 7, 2021
Great answer, keep it coming :)

peter

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Reply 3 on: Yesterday
:D TYSM

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