What is the role of the Companies' Creditors Arrangement Act with respect to developing contractual arrangements that fend off insolvency?
A) Corporations whose debts exceed $5 million may seek bankruptcy protection.
B) It allows creditors to pursue their normal legal default remedies.
C) It establishes when there is a deemed assignment in bankruptcy.
D) Corporations with debts exceeding $1 million may seek bankruptcy protection.
Correct Answer:
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