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Many corporations choose Chapter 11 bankruptcy proceedings voluntarily because the management can: take up to 120 days to file a reorganization plan. continue to run

Many corporations choose Chapter 11 bankruptcy proceedings voluntarily because the management can:

  • take up to 120 days to file a reorganization plan.

  • continue to run the business.

  • reorganize if the required fractions of creditors approve of the plan and it is confirmed when the reorganization takes place.

  • All of the above.

  • None of the above.

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