Question: 1. What is the difference between Chapter 7 and Chapter 11 bankruptcies? Why might Chapter 11 be better for claimants than Chapter 7? Explain fully

1. What is the difference between Chapter 7 and Chapter 11 bankruptcies? Why might Chapter 11 be better for claimants than Chapter 7? Explain fully in terms of: : (a) the main differences, (b) selling off of the company's assets. the process involved in each situation

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