Define each of the following terms: a. Informal restructuring; reorganization in bankruptcy b. Assignment; liquidation in bankruptcy;

Question:

Define each of the following terms:

a. Informal restructuring; reorganization in bankruptcy

b. Assignment; liquidation in bankruptcy; fairness; feasibility

c. Absolute priority doctrine; relative priority doctrine

d. Bankruptcy Reform Act of 1978; Chapter 11; Chapter 7

e. Priority of claims in liquidation

f. Extension; composition; workout; cram down; prepackaged bankruptcy; holdout

Liquidation
Liquidation in finance and economics is the process of bringing a business to an end and distributing its assets to claimants. It is an event that usually occurs when a company is insolvent, meaning it cannot pay its obligations when they are due....