Bankruptcy: Chapter 7 Liquidations
Phillip L Kunkel and Jeffery A. Peterson ( June, 2015 )
Summary
A Chapter 7 bankruptcy is a liquidation proceeding. It is the most logical choice for a farmer who cannot continue to farm and who must terminate his or her farming operation. Under Chapter 7, a trustee is appointed to liquidate all nonexempt assets and distribute the proceeds to creditors. Secured creditors will receive either the value of their collateral or the collateral itself.
Details
| Organization | University of Minnesota Extension |
| Publisher | University of Minnesota |
| Publication Date | June, 2015 |
| Publication Views | 3441 |
| Material Type | Written Material |
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