The section of the Bankruptcy Code that allows a business to reorganize and pay only a limited proportion of its debts is Chapter
A) 7.
B) 11.
C) 13.
D) 17.

Question

Quizplus · Accepted Answer

Chapter 11 of the Bankruptcy Code allows a business to reorganize its debts and pay only a limited proportion of its debts, while still remaining in operation. Chapter 7 is liquidation bankruptcy for individuals and businesses, while Chapter 13 is a debt repayment plan for individuals. There is no Chapter 17 in the Bankruptcy Code.

The Section of the Bankruptcy Code That Allows a Business