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Category > Accounting Posted 10 May 2017 My Price 4.00

Bradley goes into bankruptcy under Chapter 7

Bradley goes into bankruptcy under Chapter 7 owing $5,000 as wages to his four employees. There is enough in his estate to pay all costs of administration and enough to pay his employees, but nothing will be left for general creditors. Do the employees take all the estate? If so, under what conditions? If the general creditors received nothing, would these debts be discharged?

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Alpha Geek
(8)
Status NEW Posted 10 May 2017 11:05 AM My Price 4.00

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file 1494415291-Answer.docx preview (103 words )
B-----------rad-----------ley----------- go-----------es -----------int-----------o b-----------ank-----------rup-----------tcy----------- un-----------der----------- Ch-----------apt-----------er -----------7 o-----------win-----------g $-----------5,0-----------00 -----------as -----------wag-----------es -----------to -----------his----------- fo-----------ur -----------emp-----------loy-----------ees-----------. T-----------her-----------e i-----------s e-----------nou-----------gh -----------in -----------his----------- es-----------tat-----------e t-----------o p-----------ay -----------all----------- co-----------sts----------- of----------- ad-----------min-----------ist-----------rat-----------ion----------- an-----------d e-----------nou-----------gh -----------to -----------pay----------- hi-----------s e-----------mpl-----------oye-----------es,----------- bu-----------t n-----------oth-----------ing----------- wi-----------ll -----------be -----------lef-----------t f-----------or -----------gen-----------era-----------l c-----------red-----------ito-----------rs.----------- Do----------- th-----------e e-----------mpl-----------oye-----------es -----------tak-----------e a-----------ll -----------the----------- es-----------tat-----------e? -----------If -----------so,----------- un-----------der----------- wh-----------at -----------con-----------dit-----------ion-----------s? -----------If -----------the----------- ge-----------ner-----------al -----------cre-----------dit-----------ors----------- re-----------cei-----------ved----------- no-----------thi-----------ng,----------- wo-----------uld----------- th-----------ese----------- de-----------bts----------- be----------- di-----------sch-----------arg-----------ed?----------- A-----------nsw-----------er ----------- Ye-----------s, -----------emp-----------loy-----------ees----------- wi-----------ll -----------tak-----------e a-----------ll -----------the----------- es-----------tat-----------e
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