With regard to debt collection,which of the following is false?
A) The Bankruptcy and Insolvency Act provides for a procedure for an insolvent debtor to make a proposal to his creditors that, if accepted by his creditors, will not result in bankruptcy.
B) Under the execution procedure, the assets of a judgment debtor can be seized to satisfy a judgment debt.
C) A person who wins in an action and is awarded damages is called a "judgment creditor."
D) Any assets obtained by a bankrupt after his being discharged can still be claimed by former creditors who placed him into bankruptcy.
E) A debenture can create a "floating charge" that will not attach to anything specifically until the debtor defaults or until the happening of another "crystallizing" event.
Correct Answer:
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