Which chapter of bankruptcy allows a firm to be reorganized in 90 days?
A)7
B)11
C)12
D)13

Question

Quizplus · Accepted Answer

Chapter 11 bankruptcy allows firms to reorganize and continue operating while paying creditors over a period of time. The time period for reorganization varies, but it is possible to complete the process in 90 days with court approval. Chapters 7, 12, and 13 have different purposes and do not provide the same opportunity for reorganization.

Which Chapter of Bankruptcy Allows a Firm to Be Reorganized