Question

Cody is the sole proprietor of Diners Cafe, which owes debts in an amount more than Cody believes he and Diners can repay. The creditors agree that liquidating the business would not be in their best interests. To stay in business, Cody could file for bankruptcy under
a. Chapter 7 only.
b. Chapter 11 only.
c. Chapter 13 only.
d. Chapter 11 or 13.

Answer

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