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Question 2 (7 points) - Assume for this question only that Apple Corps Limited is left, for whatever reason, with no assets except a building

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Question 2 (7 points) - Assume for this question only that Apple Corps Limited is left, for whatever reason, with no assets except a building that used to house the recording studio (valued at $15 million), but liabilities in excess of $100 million. These liabilities include: a plumber with an unpaid bill for work on the recording studio worth $500,000; an electrician with an unpaid bill for work on the recording studio worth $1.5 million; Bank A which loaned Apple Corps Limited $70 million for a marketing campaign that failed miserably; and an accountant for Apple Corps Limited who is owed $28 million for all the unpaid work she has done over the past twenty years. The creditors want to trigger an involuntary liquidation proceeding. Describe the process they will have to follow and how much each creditor is likely to receive in as much detail as possible

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