the corporation which files for bankruptcy is considered a

debtor

a legal process of reorganizing or eliminating debt

bankruptcy

occurs when a corporation decides to cease operations

Chapter 7 bankruptcy

a creditor's acknowledgement of debt

claim

the sale of the debtor's property to satisfy claims

liquidation

overseer of the bankruptcy case and arranges the liquidation of assets

trustee

What prohibits a creditor from proceeding with collection activity?

automatic stay

Which type of bankruptcy allows corporations to reorganize debt?

Chapter 11

Which type of bankruptcy discontinues business operations?

Chapter 7

_____ bankruptcy allows international corporations to file bankruptcy in United States courts where their significant assets are located.

Chapter 15