Which of the following is a goal of the Bankruptcy and Insolvency Act?

Question

Quizplus · Accepted Answer

The goal of the Bankruptcy and Insolvency Act is to provide a process to preserve as much of the debtor's assets as possible for the benefit of creditors. It does not protect debtors or provide an alternative to criminal charges. While bankruptcy may discharge some or all of a debtor's debts, this is not the main goal of the Act. The Act also does not specifically address the burden of debt for incorporated companies.

Which of the Following Is a Goal of the Bankruptcy