2. Aside from liability discharge provided for in the reorganization plan, the discharge of a debtor corporations
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2. Aside from liability discharge provided for in the reorganization plan, the discharge of a debtor corporation’s liabilities occurs when:
a The plan is accepted by a majority of unsecured creditors b Each class of claims has accepted the plan or is not impaired under it c Each holder of a claim has accepted the plan or will receive at least as much as if the company were liquidated d The court confirms that the plan is fair and equitable
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Related Book For
Advanced Accounting
ISBN: 9781292214597
13th Global Edition
Authors: Joseph H. Anthony, Bruce Bettinghaus, Floyd A. Beams, Kenneth Smith
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