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The Bankruptcy Act of 2005 Increases the Responsibility of a Debtor's

Question 23

Multiple Choice

The Bankruptcy Act of 2005 increases the responsibility of a debtor's attorneys thereby raising concerns that bankruptcy practice may become less attractive because:


A) the attorney has to operate on relatively thin margins as provisions increase along with costs and risks.
B) the attorney owes a duty to client for getting the debtor's property appraised.
C) the attorney has to call a meeting of all the creditors of the debtor.
D) the attorney has to classify the priority of creditors as per the 10 classes of priority given in the Bankruptcy Code.

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