When a Business Employs the Lights Out Option

When a business employs the lights out option

A) All debts are extinguished.
B) The court will require that the debtor liquidate assets and put them in trust for future creditor claims.
C) The business' debts are still valid and the creditor may pursue a debt collection lawsuit.
D) The court will order the debtor to immediately pay all debts to creditors.