You Are a Secured Creditor in a Bankruptcy Liquidation

Multiple Choice

You are a secured creditor in a bankruptcy liquidation. Listed below, in chronological order, are the steps in the bankruptcy proceeding. Just prior to which step would you expect to have to document the strength of your claim on the firm's assets?

A) The corporation files a bankruptcy petition.
B) A trustee in bankruptcy is elected.
C) Assets are liquidated and bankruptcy administration costs are paid.
D) The proceeds are distributed among creditors.
E) Residual payments are made to shareholders.