What Is the Legal Effect If the Creditors Reject the Debtor's

question 52

Multiple Choice

What is the legal effect if the creditors reject the debtor's Division I proposal?

• A) The debtor is deemed to be a bankrupt.
• B) The court will be required to approve the proposal.
• C) The debtor can seek DIP financing.
• D) The debtor must attend mandatory financial counselling sessions.

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