The Small Business Reorganization Act of 2019will prohibits owners of a business to retain their ownership interests if theycomply with the "fair and equitable" requirement of the new law.

True

False

When is a creditor referred to as a secured creditor?

when the creditor has been guaranteed payment by a trustee

when the creditor has a lien on property to secure repayment of a debt

when the creditor gives a loan without property securing repayment

when the creditor has been repaid the debt

Theconsequentialistapproachto the bankruptcy filing decision will focus on whether filing is right or wrong in itself.

True

False