Question: 2 5 . In a Chapter 7 proceeding, if a trustee does not affirmatively act to assume or reject an executory contract or lease of
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
The maximum length of time for a Chapter plan, with court approval, is years.
True False
To be considered nondischargeable, the burden is on the creditor to file an adversary complaint when the debt was obtained through a fraudulent representation, through fraud while the debtor was serving in a fiduciary capacity, through embezzlement or larceny, or as the result of willful and malicious injury.
True False
Which of the following clause or clauses in a lease isare unenforceable against a trustee in a bankruptcy case.
A termination clause conditioned on the insolvency of a tenant.
A termination clause conditioned on the tenant's change in the designated use of the property.
A clause in a lease prohibiting a Chapter and trustee from damaging the premises.
All of the above.
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
