Choice "C" is correct. Under Bankruptcy Code Section 303, creditors may petition a debtor involuntarily into a Chapter 11 bankruptcy reorganization proceeding.Choice "b" is incorrect. The general rule in a reorganization is that a trustee is not appointed.
Choice "d" is incorrect. There is no requirement of insolvency for filing a voluntary reorganization petition.
Choice "a" is incorrect. A creditor must wait 120 days to file a plan unless a trustee has been appointed.
