Charles Is the Sole Shareholder of His Corporation That Carries

Charles is the sole shareholder of his corporation that carries on an Internet services business.The corporation has 10 employees.Unfortunately,Charles's corporation comes perilously close to going under when the Internet stock bubble collapses and it is forced to make a proposal to its creditors.The corporation was paying $3000 a month to the bank and $2000 a month to a computer leasing firm.Neither obligation is secured.Under the Bankruptcy and Insolvency Act Charles' corporation may NOT propose to do the following.

A) pay the full amount of the obligations due to both creditors
B) pay one half of the full amount of the obligations due to both creditors
C) sell all of its assets and use the proceeds to pay back both creditors in full
D) defer all its payments to both creditors for 6 months
E) pay the creditors whatever Charles wants regardless of how the creditors vote on the proposal.