Solved

Which of the Following Statements Is FALSE? in Bankruptcy Law

Question 48

Multiple Choice

Which of the following statements is FALSE? In bankruptcy law


A) secured creditors who are not fully paid when the assets they have a security interest in are sold can then rank as preferred creditors for the unpaid amount
B) lawyers and the trustee in bankruptcy are preferred creditors
C) many unsecured creditors often receive very little of the amount they are owed
D) landlords, the government and employees can all be preferred creditors
E) the trustee can take back assets if the debtor sold them to keep them away from creditors' claims

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions