Match each term in Column A with the appropriate statement in Column B. 1. (1) L

Question

Match each term in Column A with the appropriate statement in Column B. 1. (1) Liquidation (2) (a) (b) A creditor's right to payment Entered by bankruptcy judge whenever debtor is entitled to the court's protection The creditor's right to reduce the amount of its claim by the amount it owes the debtor Reorganization (3) Claim (c) (4) Discharge (d) The type of proceeding pursued under Chapter 7 A transfer that gives a creditor an unfair advantage over other creditors (5) Order of relief (e) (6) Meeting of creditors () The legal forgiveness of a debt (7) Voidable preference (g) The type of proceeding pursued under Chapter 11 (8) Right of setoff () The event when, among other things, a permanent trustee is elected Person who handles the assets and obligations during bankruptcy (9) Debtor (i) (10) Trustee () Person or entity who files for bankruptcy or has a petition filed against them

Explanation / Answer

Answer

Coloum A Coloum B

1 d

2 g

3 a

4 f

5 b

6 h

7 e

8 c

9 j

10 i

As it is a match the coloum question it already holds an explanation.

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