Under _____,the firm continues operations and gains protection from its creditors while trying to reorganize.
A) the Landrum-Griffin Act
B) the ally doctrine
C) Chapter 11
D) the Taft-Hartley Act

Question

Quizplus · Accepted Answer

Chapter 11 of the US Bankruptcy Code provides a legal process for a company to reorganize its debts, operations, and assets while remaining in business. It offers protection from creditors while developing a plan to repay debt and emerge from bankruptcy on more stable financial footing. The other options (A, B, D) are unrelated to bankruptcy or debt restructuring.

Under _____,The Firm Continues Operations and Gains Protection from Its