GMGT 2060 Lecture 54: Lecture Notes All P 270

• School: University of Manitoba
• Department: General Management
• Course: GMGT 2060
• Professor: Alok Dua

Document Summary

Addition, during the period of bankruptcy they must pay monthly payments to the trustees that are income dependent. At the end of the process, the claims of the creditors are paid in order: 1) secured creditors. Must be fully paid by funds available, 2) preferred creditors the trustee, employees, 3) distributions to unsecured creditors where there is like a 10 cents on the dollar return. Once the creditors are paid, there is an application to the court for a discharge and all your debts go away, except if you fraudulently misrepresented things those may be continued and student loans continue.