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The rules regarding corporate bankruptcy proceedings are somewhat different from that of consumer bankruptcy. Which of the following is FALSE with respect to these rules?
The rules regarding corporate bankruptcy proceedings are somewhat different from that of consumer bankruptcy. Which of the following is FALSE with respect to these rules? Bankruptcy proceedings involving businesses divide creditors into classes. Proposals from consumer debtors require the agreement of a majority of creditors. Proposals from businesses require agreement from a majority of creditors totalling of the claims in each class. Consumer bankrupts are seldom discharged.
The rules regarding corporate bankruptcy proceedings are somewhat different from that of consumer bankruptcy. Which of the following is FALSE with respect to these rules?
Bankruptcy proceedings involving businesses divide creditors into classes.
Proposals from consumer debtors require the agreement of a majority of creditors.
Proposals from businesses require agreement from a majority of creditors totalling of the claims in each class.
Consumer bankrupts are seldom discharged.
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