1
the corporation which files for bankruptcy is considered a
debtor
2
a legal process of reorganizing or eliminating debt
bankruptcy
3
occurs when a corporation decides to cease operations
Chapter 7 bankruptcy
4
a creditor's acknowledgement of debt
claim
5
the sale of the debtor's property to satisfy claims
liquidation
6
overseer of the bankruptcy case and arranges the liquidation of assets
trustee
7
What prohibits a creditor from proceeding with collection activity?
automatic stay
8
Which type of bankruptcy allows corporations to reorganize debt?
Chapter 11
9
Which type of bankruptcy discontinues business operations?
Chapter 7
10
_____ bankruptcy allows international corporations to file bankruptcy in United States courts where their significant assets are located.
Chapter 15