Skynet Is an Insolvent Company

question 64

Multiple Choice

Skynet is an insolvent company.It has approximately $6 million in debt that it cannot repay,but it wants to attempt to continue operating under its own control.Which of the following should Skynet pursue?

• A)Fraudulent conveyance law to prove its debt was given fraudulently
• B)The BIA to begin bankruptcy proceedings
• C)The WURA,but only if it is federally incorporated
• D)The CCAA to begin a restructuring process
• E)The proposal procedure to begin a scheme of arrangement

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Definitions:

Consumer Issues

Problems or challenges faced by individuals in the marketplace, related to the purchase, use, or disposal of goods and services.

Corporate Social Responsibility

A business model that helps a company be socially accountable—to itself, its stakeholders, and the public.

Carbon Footprint

The total amount of greenhouse gases emitted directly or indirectly by an individual, organization, event, or product.

Socially Responsible

Describes businesses or practices that operate in a manner that considers the welfare of society and the environment.