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If a corporation is solvent, can it file for chapter 11 bankruptcy? a. It depends on the purpose of the corporation. Only certain types can
If a corporation is solvent, can it file for chapter 11 bankruptcy?
a. | It depends on the purpose of the corporation. Only certain types can file for any chapter of bankruptcy. | |
b. | Yes, in order to negotiate with creditors to reduce its debt. | |
c. | No, only an insolvent entity can file for bankruptcy. | |
d. | No if the corporation is a publicly traded company. Maybe if corporation is not publicly traded. |
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