Norma files a petition in bankruptcy.She turns her assets over to O'Brien,who sells them and then distributes the proceeds to Norma's creditors.O'Brien is
A) a preferred creditor.
B) a bankruptcy court judge.
C) a bankruptcy trustee.
D) a debtor.
Roland files forChapter 7 bankruptcy.After all his assets have been sold and the proceeds distributed among his creditors,Roland's remaining debts
A) are discharged.
B) paid by the court.
C) must be paid by Roland.
D) are put on hold until Roland has sufficient means to pay them.
Daniel is a trustee for a federal bankruptcy court.Daniel's duties include
A) collecting the debtor's available estate.
B) establishing priority for the payment of unsecured creditors.
C) operating a debtor's business to obtain maximum profit for creditors.
D) submitting to an examination under oath by the creditors.
Thirty-one days before filing a petition in bankruptcy,Dee transfers property and makes payments that favor one creditor over another.These are
A) affirmation agreements.
C) secured interests.
D) unsecured debts.