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What is the difference between liquidation and reorganization for the Federal Bankruptcy Reform Act of 1978? Sometimes, firms may use the threat of a bankruptcy

What is the difference between liquidation and reorganization for the Federal Bankruptcy Reform Act of 1978? Sometimes, firms may use the threat of a bankruptcy filing to force creditors to renegotiate terms or as a way to reduce labor costs. Is this tactic ethical? Explain. (related to LO #3)

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