Liquidation involves the appointment of a trustee who collects the non-exempt property of the debtor, sells it and distributes the proceeds to the creditors. Bankruptcy proceedings under Chapters 11 and 13 involve the rehabilitation of the debtor to allow him or her to use future earnings to pay off creditors, discharge debts.
Are You Planning To Go Ahead With Your Chapter 11 Bankruptcy?
– October 25, 2009Posted in: General
