What is eligibility requirement for a small-business debtor

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Problem 1: What is the eligibility requirement for a small-business debtor to avoid the appointment of the creditor's committee?

a. Small-business debtors that own real estate with liabilities under $2.7 million

b. Small-business debtors that own or manage real estate with liabilities under $2 million

c. Small-business debtors that do not own or manage real estate with liabilities not exceeding $2.7 million

d. Small business debtors that manage real estate with liabilities not exceeding $2.7 million

Problem 2: Which bankruptcy filing has advantage of being the least expensive and complicated?

a. Debtor-initiated filing under chapter 11 reorganization plan

b. Debtor-initiated filing under chapter 7 liquidation

c. Debtor-initiated filing under chapter 13 repayment plan

d. Creditor-initiated filing under chapter 11 reorganization plan

Reference no: EM132943390

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