Asked by Tempest Hansen on Apr 26, 2024
Verified
If there are insufficient funds to satisfy all the creditors within a class:
A) the debtors have the last say on the amount that each member shall receive.
B) the class members decide amongst themselves the amount that each of the members should receive.
C) the court makes a decision regarding the share of each member.
D) each class member receives a pro rata share of his claim.
Pro Rata Share
A portion of a whole that is allocated proportionally among participants based on their share or contribution.
Insufficient Funds
Insufficient funds occur when an account does not have enough money to cover checks or electronic withdrawals made against it, often resulting in fees and declined transactions.
- Acquire knowledge on the elementary concepts and procedures of bankruptcy proceedings.
Verified Answer
LB
lelandra borgesApr 29, 2024
Final Answer :
D
Explanation :
To the extent there are insufficient funds to satisfy all the creditors within a class,each class member receives a pro rata share of his claim.
Learning Objectives
- Acquire knowledge on the elementary concepts and procedures of bankruptcy proceedings.