Question 1

Which of the following is a feature of a Chapter 11 plan of reorganization?

Accepted Answer

A)  an equilateral division of the Chapter 11 estate among all creditors 
B)  division of the bankruptcy estate according to the debt to be paid to each creditor 
C)  discharge of a debtor's unsecured debts and payment of secured debts 
D)  a proposed new capital structure for a debtor to assume when it emerges from Chapter 11 bankruptcy 
A)  an equilateral division of the Chapter 11 estate among all creditors 
B)  division of the bankruptcy estate according to the debt to be paid to each creditor 
C)  discharge of a debtor's unsecured debts and payment of secured debts 
D)  a proposed new capital structure for a debtor to assume when it emerges from Chapter 11 bankruptcy

Question 2

A debtor-in-possession is a debtor who is left in place to operate the business during the reorganization proceeding.

Accepted Answer

A) True 
 B)False

Question 3

The 2005 bankruptcy act provides that after already getting relief under other chapters of the Bankruptcy Code, a debtor can be granted Chapter 7 relief in which of these situations?

Accepted Answer

A)  six years following Chapter 11 relief 
B)  four years following Chapter 11 relief 
C)  six years following Chapter 12 relief 
D)  twelve years following Chapter 13 relief 
A)  six years following Chapter 11 relief 
B)  four years following Chapter 11 relief 
C)  six years following Chapter 12 relief 
D)  twelve years following Chapter 13 relief

Question 4

Bankruptcy petitions cannot be filed by the debtor without the assistance of an attorney or filing service.

Accepted Answer

A) True 
 B)False

Question 5

A(n) ________ is a document required to be filed by an equity security holder that states the amount of his or her interest against the debtor.

Accepted Answer

A)  proof of claim 
B)  proof of interest 
C)  voluntary petition 
D)  involuntary petition 
A)  proof of claim 
B)  proof of interest 
C)  voluntary petition 
D)  involuntary petition

Question 6

________ is a rehabilitation form of bankruptcy that permits bankruptcy courts to supervise the debtor's plan for the payment of unpaid debts in installments over the plan period.

Accepted Answer

A)  Chapter 7 
B)  Chapter 13 
C)  Chapter 11 
D)  Chapter 12 
A)  Chapter 7 
B)  Chapter 13 
C)  Chapter 11 
D)  Chapter 12

Exam 28: Bankruptcy and Reorganization

Which of the following is a feature of a Chapter 11 plan of reorganization?

A debtor-in-possession is a debtor who is left in place to operate the business during the reorganization proceeding.

The 2005 bankruptcy act provides that after already getting relief under other chapters of the Bankruptcy Code, a debtor can be granted Chapter 7 relief in which of these situations?

Bankruptcy petitions cannot be filed by the debtor without the assistance of an attorney or filing service.

A(n) ________ is a document required to be filed by an equity security holder that states the amount of his or her interest against the debtor.

________ is a rehabilitation form of bankruptcy that permits bankruptcy courts to supervise the debtor's plan for the payment of unpaid debts in installments over the plan period.

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