Wild River Tours Corporation wants to formulate a plan under which it pays a portion of its debts and is discharged of the remainder while continuing in business. To accomplish this goal, Wild River should file a petition in bankruptcy for relief through

Question

Wild River Tours Corporation wants to formulate a plan under which it pays a portion of its debts and is discharged of the remainder while continuing in business. To accomplish this goal, Wild River should file a petition in bankruptcy for relief through​

Quizplus · Accepted Answer

Filing for relief through a reorganization is the best option for Wild River Tours Corporation as it wants to continue in business while paying off a portion of its debts and getting discharged of the remainder. In a reorganization plan, a debtor is allowed to restructure its debts and may continue its business operations subject to court approval.

Wild River Tours Corporation Wants to Formulate a Plan Under