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Debt and Bankruptcy
?
What is the legal effect if the creditors reject the debtor's Division I proposal?
The debtor is deemed to be a bankrupt.
The court will be required to approve the proposal.
The debtor can seek DIP financing.
The debtor must attend mandatory financial counselling sessions.
Show Result
Correct
- Your answer is correct.
Wrong
- Your answer is wrong.
Detailed Answer
Correct answer: (A)
The debtor is deemed to be a bankrupt.
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