To liquidate the debtor's assets and distribute the proceeds to creditors

To reorganize the debtor's debts and allow the business to continue operating

To protect the debtor from creditors while a reorganization plan is developed

To discharge the debtor's debts and allow them to start over

Individuals

Businesses

Non-profit organizations

All of the above

The debtor files a petition with the bankruptcy court

The debtor submits a reorganization plan to the bankruptcy court

The debtor's creditors vote on the reorganization plan

All of the above

A plan that outlines how the debtor will repay its creditors

A plan that outlines how the debtor will continue operating its business

A plan that outlines how the debtor will distribute its assets to its creditors

All of the above

The debtor is discharged from its debts

The debtor is allowed to continue operating its business

The debtor's assets are liquidated and distributed to its creditors

None of the above

The debtor is discharged from its debts

The debtor is allowed to continue operating its business

The debtor's assets are liquidated and distributed to its creditors

The debtor is forced to file for Chapter 7 bankruptcy

Chapter 11 bankruptcy allows the debtor to continue operating its business, while Chapter 7 bankruptcy liquidates the debtor's assets

Chapter 11 bankruptcy is for businesses, while Chapter 7 bankruptcy is for individuals

Chapter 11 bankruptcy is more expensive than Chapter 7 bankruptcy

All of the above

It allows the debtor to continue operating its business

It gives the debtor time to develop a reorganization plan

It protects the debtor from creditors

All of the above

It is expensive

It can be time-consuming

It can damage the debtor's reputation

All of the above

To approve or reject the debtor's reorganization plan

To supervise the debtor's reorganization process

To protect the debtor from creditors

All of the above

To represent the interests of the creditors

To negotiate with the debtor on behalf of the creditors

To vote on the debtor's reorganization plan

All of the above

To oversee the debtor's financial affairs

To distribute the debtor's assets to creditors

To collect and sell the debtor's assets

All of the above

They are automatically terminated

They are automatically assumed

They are automatically rejected

None of the above

They are automatically terminated

They are automatically laid off

They are automatically given a pay raise

None of the above

It is automatically seized by the bankruptcy court

It is automatically sold by the trustee

It is automatically distributed to the creditors

None of the above