What is the most important difference when a business uses Chapter 11 rather than Chapter 7 in
a bankruptcy?
A) In Chapter 11, there is never a trustee, whereas in Chapter 7 there is always a trustee.
B) In Chapter 11, petitions must be voluntary, whereas Chapter 7 petitions can be either
voluntary or involuntary.
C) In Chapter 11, all creditors are assured of receiving some payment, whereas in Chapter 7
some creditors may receive nothing.
D) In Chapter 11, the business survives, whereas in Chapter 7 the business does not survive.
D
Business