Under Canadian law, bankruptcy is MOST accurately described as
A) a procedure for winding- up debtors' affairs, paying creditors, and, in some cases, rehabilitating debtors.
B) a procedure for making sure that debtors can repay their debts.
C) a process for extending fresh credit to debtors.
D) a procedure for liquidating outstanding law suits against debtors.
E) a process for making new claims against debtors.
Correct Answer:
Verified
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A)
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