Chapter 7 bankruptcy is the debtor's (non-exempt) assets are sold to repay outstanding debts, with the remainder of the debt not needing to be repaid. Qualification for Chapter 7 bankruptcy is contingent on earning below a certain income threshold. Chapter 11 bankruptcy is where the debtor ...
servicesneededduringthebankruptcyprocess.Also,thesedebtswereincurredafterthe orderforrelief. 14.InaChapter7bankruptcy,theassetsoftheinsolventcompanyareliquidatedtosatisfythe claimsofthecreditors.Businessactivitiesceaseandnoncashassetsaresold.Conversely, inaChapter11bankruptcy,thecompanyattemptstosurviveitsfinancialproblems...
56 bankruptcy n.破产;无偿付能力 参考例句: You will have to pull in if you want to escape bankruptcy.如果你想避免破产,就必须节省开支。 His firm is just on thin ice of bankruptcy.他的商号正面临破产的危险。 57 undertakings 企业( undertaking的名词复数 ); 保证; 殡仪业; 任务 参考例句: The...
servicesneededduringthebankruptcyprocess.Also,thesedebtswereincurredafterthe orderforrelief. 14.InaChapter7bankruptcy,theassetsoftheinsolventcompanyareliquidatedtosatisfythe claimsofthecreditors.Businessactivitiesceaseandnoncashassetsaresold.Conversely, inaChapter11bankruptcy,thecompanyattemptstosurviveitsfinancialproblems...