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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:
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take up to 120 days to file a reorganization plan.
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continue to run the business.
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reorganize if the required fractions of creditors approve of the plan and it is confirmed when the reorganization takes place.
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All of the above.
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None of the above.
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