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11 USC Section 1114 Creates a Procedure for Modification or Rejection

question 35

Essay

11 U.S.C Section 1114 creates a procedure for modification or rejection of retiree benefit obligations . Explain this statement by stating the provisions covered under Section 1114.


Definitions:

Direct Method

A way of reporting cash flows from operating activities by showing major classes of gross cash receipts and payments.

Operating Expenses

Costs associated with the day-to-day operations of a business, excluding direct material and labor costs.

Liabilities

Amounts owed to creditors in the form of debts and other obligations.

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