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Chapter 11 bankruptcy permits Ny city business debtors to continue or terminate leases and contracts, rejecting fiscally burdensome agreements. Should the assert is turned down, the other get together, like a landlord or a business leasing belongings to the debtor, is treated as an unsecured claim from prior to the bankruptcy filing.That will depen

This chapter with the Bankruptcy Code offers for "liquidation" - the sale of one's nonexempt home as well as the distribution on the proceeds to the creditors. A Chapter 7 bankruptcy situation doesn't contain the filing of the program of repayment. Instead, a bankruptcy trustee gathers and sells your nonexempt assets and utilizes the proceeds with