To adjust debt and institute a repayment plan, Oona, who operates Q.T. Café, a small business, as a sole proprietorship, may file a petition in bankruptcy under the Bankruptcy Code's Chapter

Question

Quizplus · Accepted Answer

Chapter 13 of the Bankruptcy Code allows individual debtors, including sole proprietors, to adjust their debts and institute a repayment plan. Chapter 7 is a liquidation bankruptcy for individuals and businesses, while Chapter 11 is primarily for business reorganization and is typically too expensive and complex for small businesses. Chapter 12 is specifically designed for family farmers and fishermen.

To Adjust Debt and Institute a Repayment Plan, Oona, Who