Chapter 34-Work Set TRUE-FALSE QUESTIONS ce P 1. A debtor must be insolvent to file a voluntary petition. 2. An automatic stay is a suspension of all judicial proceedings on the occurrence of an independent event. 3. The same principles govern the filing of a Chapter 7 petition and a Chapter 11 proceeding. 4. A bankruptcy may be commenced by involuntary petition under Chapter 13. 5. Generally, in a bankruptcy proceeding, any creditor's claim is allowed. 6. When a business debtor files for Chapter 11 protection, the debtor is not allowed to continue in business, 7. No small business can avoid creditors' committees under Chapter 11. 8. Bankruptcy proceedings are held in federal bankruptcy courts. 9. A discharge obtained by fraud can be revoked within one year