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You Are a Duly Licensed and Appointed Trustee to Handle

Question 1

Multiple Choice

You are a duly licensed and appointed trustee to handle the Markin Brothers bankruptcy. You have taken possession of both personal and business assets of Sam and Joe Markin. You have retrieved all the books and documents relating to their affairs. You also have the authority to do each of the following EXCEPT


A) borrow further money for the business by pledging any remaining unsecured assets.
B) dismiss any unqualified inspectors.
C) negotiate with creditors to take specific assets in lieu of a money settlement.
D) employ a lawyer that will be paid out of bankruptcy funds.
E) take over the management of the business.

Correct Answer:

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