Achapter 11 proceeding allows the business to operate as a(n) _____, which means that the court appoints a trustee to oversee the management of the business.

Question

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In a Chapter 11 bankruptcy proceeding, the business is allowed to operate as a "debtor-in-possession," meaning it continues to run its own operations under the oversight of the court, without a trustee being appointed unless the court decides it is necessary due to fraud or incompetence.

Achapter 11 Proceeding Allows the Business to Operate as A(n)