The Legal Environment of Business: Text and Cases (MindTap Course List)
10th Edition
ISBN: 9781305967304
Author: Frank B. Cross, Roger LeRoy Miller
Publisher: Cengage Learning
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Question
Chapter 15, Problem 3CT
Summary Introduction
Case summary: Two person, C and P filed for chapter 7 bankruptcy in the federal bankruptcy court. Two amended schedules were filed by debtors, after which the trustees requested for additional time to complete the investigation. The disclosure about FBM company was made in the third amendment. The trustees made a claim that C had failed to disclose his interest in FBM. The court agreed to the claim of trustees and discharge of debtor was denied.
To explain: The risk to the debtor on the denial of discharge to conceal assets.
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Chapter 15 Solutions
The Legal Environment of Business: Text and Cases (MindTap Course List)
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