What Happens If a Consumer Proposal Is Rejected

question 31

Multiple Choice

What happens if a consumer proposal is rejected?

• A)the court must hold a bankruptcy hearing
• B)the creditors can seize the assets of the insolvent person
• C)the insolvent person is automatically declared bankrupt
• D)the Trustee in Bankruptcy must seek a settlement with creditors.
• E)the insolvent person can present a new Proposal on the basis of new information

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Definitions:

NLRA

The National Labor Relations Act, a foundational statute of US labor law that protects the rights of employees to organize and to bargain collectively with their employers.

Shareholder Model

A corporate governance model focusing on maximizing shareholder value and prioritizing the interests of shareholders in company decisions.

Stakeholder Model

A governance framework that focuses on balancing the interests of multiple stakeholders in a company, not just shareholders.

Corporate Governance

The system of rules, practices, and processes by which a company is directed and controlled, focusing on the interests of stakeholders.