Whether bankruptcy is entered either voluntarily or involuntarily, the major difference by CCCA and Bankruptcy and Insolvency Act is:
A) that liquidation occurs in CCCA but reorganization is the objective under Bankruptcy and Insolvency Act.
B) that there is no priority of claims under Chapter CCCA.
C) that liquidation occurs in Bankruptcy and Insolvency Act but reorganization is the objective under CCCA.
D) that no lawyers fees are necessary under Bankruptcy and Insolvency Act.
Correct Answer:
Verified
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