Reference no: EM133297738
True or false
1. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 included only minor changes to bankruptcy law.
2. Before a debtor files for one specific type of relief, the clerk of courts must give the debtor written notice of the other types of relief available.
3. Under Chapter 7, liquidation may be voluntary but not involuntary.
4. Assets that a debtor gains after filing a voluntary Chapter 7 bankruptcy petition are generally not part of the bankruptcy estate unless they fall under an exemption.
5. A debtor must be insolvent to file a voluntary petition for bankruptcy under Chapter 7.
6. In a Chapter 7 proceeding, a bankruptcy trustee may at times take over a debtor's business.
7. If a debtor fails to appear at the Chapter 7 creditors' meeting, the court may refuse to grant the bankruptcy.
8. Chapter 11 reorganization may be involuntary but not voluntary.
9. One of the requirements before a collective bargaining agreement can be rejected under Chapter 11 is that the debtor has first presented to the employee's representative the proposed changes to the collective bargaining agreement, and the employees reject the changes without good cause.
10. Some debts that are dischargeable under Chapter 13 are not dischargeable under Chapter 7.