Question
Please help Charlie owes Rich $20,000. Rich believes that Charlie has the ability to pay his bill but is not paying him out of spite.
Please help
Charlie owes Rich $20,000. Rich believes that Charlie has the ability to pay his bill but is not paying him out of spite. So, he wants Charlie to go through bankruptcy. Charlie has 6 other unsecured creditors. The other creditors are owed collectively $5,000. As to these facts, which statement is true?
Answers:
A.
Rich can't file a petition for involuntary bankruptcy because he reasonably believes that Rich has the ability to pay his claim and is not insolvent.
B.
Rich can file a petition for involuntary bankruptcy by himself.
C.
Rich's only recourse is to file a petition for a writ of locus calipari.
D.
Rich can't file a petition for involuntary bankruptcy unless 2 or more of the unsecured creditors join in the petition.
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