Wagner Resources was unable to meet its financial obligations. Its creditors forced it into using legal proceedings to restructure itself so that it could continue as a viable business. The process this company underwent is known as a:

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30-11-2021
Business

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Wagner Resources was unable to meet its financial obligations. Its creditors forced it into using legal proceedings to restructure itself so that it could continue as a viable business. The process this company underwent is known as a:

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KDarrigan KDarrigan · Answer 1 · 2021-11-30T19:18:49-05:00

KDarrigan KDarrigan

30-11-2021

Answer:

bankruptcy

Explanation:

more specifically, the company underwent chapter 11 bankruptcy. this type of bankruptcy is used when a business or organization is allowed to reorganize or restructure the company under a court-appointed trustee, all the while still remaining in operation.

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