Concerned That the Chapter 11 Bankruptcy Procedures Were Harming the Creditors

Concerned that the Chapter 11 bankruptcy procedures were harming the creditors of small businesses,Congress added some provisions in 2005 to change the process for businesses with less than $2 million in debt.Which of these provisions was included in that revision?

A) Small businesses have only 21 days to file a reorganization plan.
B) Small businesses do not have to declare debts of less than $5,000.
C) The courts have only 45 days to confirm or reject the plan or reorganization.
D) All creditors of small businesses are treated as equals and proceeds are distributed proportionately to secured and unsecured creditors.

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