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Corporate Bankruptcy by William J. Donoher

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CHAPTER 4

The Mechanics of Chapter 7 and Chapter 11

In Chapters 2 and 3, we looked at the Code’s treatment of filing, property of the estate, claims and priorities, and the general administration of a bankruptcy proceeding. It is important to remember that the procedures outlined above apply with equal measure to Chapter 7 and Chapter 11 proceedings, with some distinctions involving liquidations under Chapter 7 that we will touch upon in Section 4.1. This chapter is devoted, instead, to the specific mechanics of liquidations and reorganizations. Figure 1.2 provides a schematic overview of both processes, to which the reader can refer to quickly understand where a given issue stands in relation to others or to the process as a whole.

4.1 Liquidation ...

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