Question 1

Cargo Corp. has applied for Chapter 11 bankruptcy protection. In its filing, management failed to present a plan for handling the reorganization of the firm. At this stage, how long will it be before creditors can provide their own plan?

Question 2

Argon Inc. has filed for bankruptcy protection under Chapter 11. Which of the following represents a potential creditors' committee?

Question 3

A 'work-out' is:

Question 4

Y Co. is having some mild-to-serious financial difficulty. However, it has decided to voluntarily enter Chapter 11 bankruptcy. What is one of the primary reasons why the firm may have chosen to do so?

Question 5

SmallTime, Inc. is a corporation with $1 million in assets, mostly in real estate. What bankruptcy filing would likely be the best for the firm?