Question: 2 1 . In a Chapter 1 1 case, the debtor - in - possession: 1 . is authorized to continue to operate the debtor's
In a Chapter case, the debtorinpossession:
is authorized to continue to operate the debtor's business without court approval.
must cease all operations at the time the petition is filed.
must surrender all property to the trustee when the petition is filed.
need not close existing business bank accounts and open new ones.
In a Chapter case, unlike a Chapter case:
Only the trustee can propose a plan.
The debtor may not continue to operate the business.
The corporate shareholders of the debtor may not get paid under the plan.
A trustee is always appointed.
In a Chapter property of the estate includes:
Prepetition exempt property.
PostPetition earnings of the debtor.
None of the above.
All of the above.
In a Chapter case, an individual debtor will not receive a discharge if she:
Has previously received a discharge in a Chapter case filed within the past eight years.
Has not paid all priority claims in full.
Fails to object to improperly filed claims of creditors.
If she moves before the case is closed.
In a Chapter proceeding, if a trustee does not affirmatively act to assume or reject an executory contract or lease of real or personal property within days after the order for relief is entered, then the contract or lease is deemed rejected without a further court order.
True False
In all cases under Chapters and a debtor or trustee must make the decision to assume or reject any executory contract within days after the case is commenced.
True False
In order to assume an unexpired lease, the trustee or debtorinpossession must:
Cure all defaults.
Assign the lease.
All of the above.
None of the above.
Intentional torts are debts that may be excepted from discharge under the Bankruptcy Code.
True False
Operating reports are:
A form of disclosure statement requiring approval by the bankruptcy court before the proponent of a plan may solicit creditor acceptance.
A history of how the debtor became insolvent.
Reports of receipts and disbursements in a Chapter case after the petition is filed.
Noncumulative income and expense statements showing the financial condition of the debtor at the time the bankruptcy petition is filed.
The Chapter debtor does not have to begin making payments to the trustee until hisher plan is confirmed by the court.
True False
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