Noah, a Bodybuilder, Has a Diet-Supplement Business

Multiple Choice

Noah, a bodybuilder, has a diet-supplement business.His supplements, GRO-BIG, are becoming increasingly popular, but it will take at least a year before they reach all of their target markets.Unfortunately, time may be running out.Although the future otherwise looks bright, several debts have fallen due and creditors are barking for payment.Noah's business recently became insolvent.If Noah wants to retain control of the business, his best bet would likely be to

A) make a proposal to his creditors to liquidate the GRO-BIG business.
B) encourage one of his creditors to apply for a bankruptcy order.
C) make an assignment into bankruptcy so that he can extend the time needed to pay his debts.
D) seek court approval of a scheme of arrangement under the Companies Creditor's Arrangement Act.
E) make a proposal that convinces the creditors that it is in their interest to give the business more time to pay its debts, rather than trying to demand full payment immediately.