Business, 10.12.2021 22:20 macylen3900

PLEASE HELP ASAP Gidgits Galore's payment plan under Chapter 11 was rejected by its committee of creditors, and the court
agreed and dismissed its petition. Gidgits Galore now seeks to file a petition in Chapter 7 to liquidate. The bank loaned Gidgits Galore $10,000 and secured the loan with a lien on 1,000 gidgits but did not file a financing statement. The bank is an unsecured creditor.
True
False
———————-———————————
Choose the term that best matches the description given.
To sell the assets of a business, pay the bills and divide the remainder among stakeholders
1. Default
2. Liquidation
3. Collateral
4. Reorganization
——————————————————
Choose the term that best matches the description given.
Equipment, property or funds owned by a business
1. Assets
2. Collateral
3. Lien
4. Trustee
——————————————————

Answers: 1

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PLEASE HELP ASAP Gidgits Galore's payment plan under Chapter 11 was rejected by its committee of c...