What is Chapter 7 liquidation? This is what happens to a company tha...

What is Chapter 7 liquidation? This is what happens to a company that files for it
NorthJersey.com
When a company decides it can no longer continue its normal business operations, it files for a Chapter 7 liquidation. Unlike a Chapter 11 bankruptcy, the company does not present a turnaround plan, but seeks court approval to liquidate its assets ...

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