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The creditors of a firm have filed an involuntary petition seeking a Chapter 7 liquidation of the firm under federal bankruptcy law. The firm contests the petition. What is a basis for the court denying the petition? A. A custodian took possession of the debtor’s property to enforce a lien 60 days prior to filing. B. A custodian took possession of the debtor’s property to enforce a lien 120 days prior to filing. C. The debtor has 12 creditors and three creditors with unsecured claims totaling $11,625 joined in the petition. D. The debtor has 10 creditors and one creditor with a claim of $10,000 filed. |