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Question 1

MoCo has filed for bankruptcy protection by submitting its petition in bankruptcy to the court. However, one of its creditors continues to harass the company about suing the firm and sending collection agents to collect its security. If the lender engaged in such an act it would be:

Question 2

Jimmy has been forced into bankruptcy by his creditors. Such a bankruptcy is apt to be:

Question 3

Toby is the trustee in bankruptcy of NoMoCo. Which of the following tasks is he allowed to do in his attempts to satisfy creditors:

Question 4

Doris, the trustee in bankruptcy of GoneFishin', Inc. has begun paying off creditors from the bankruptcy property. One creditor in particular has been troublesome and annoying to the other creditors. As such, Doris decides to pay off that creditor first to insure that the rest of the process goes smoothly. Such an action by Doris would be:

Question 5

At the meeting between the creditors and the trustee, which of the following items will occur?

Question 6

Steve has filed for bankruptcy protection under Chapter 7. However, in making his filing, he failed to include one of the debts he owed to his former employer. Because the employer no longer had any regular contact with Steve, he was unaware of the filing and failed to give proof of claim to the trustee. Because of this: