Asked by Anonymous
What bankruptcy provision has the bank chosen?
Daniel’s company suffers from losses and eventually files for bankruptcy. Since Daniel’s company deals in artifacts, the bank decides to opt for the provision for bankruptcy. Through this provision, the company decides to auction the goods and recover a portion of the debt.
Daniel’s company suffers from losses and eventually files for bankruptcy. Since Daniel’s company deals in artifacts, the bank decides to opt for the provision for bankruptcy. Through this provision, the company decides to auction the goods and recover a portion of the debt.
Answers
Answered by
Anonymous
I think the bankruptcy provision the bank has chosen is chapter 7 because that provision entails selling company assets such as goods.
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