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Question
Vernon owns a family run farming business. He earned $100,000 in the current financial year. He owes $70,000, which forms a part of his farm expenses, to creditors but he wants to keep the business running. Which type bankruptcy should Vernon file for?
A. Chapter 7 only
B. Chapter 11 and chapter 7
C. Chapter 7 and Chapter 12
D. Chapter 12
Answer
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Related questions
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