Gonne Corporation is being liquidated under Chapter

Gonne Corporation is being liquidated under Chapter

Question # 00637192 Posted By: rey_writer Updated on: 01/13/2018 10:06 AM Due on: 01/13/2018
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Gonne Corporation is being liquidated under Chapter 7 of the Bankruptcy Act. The trustee has determined that the unsecured claims will receive $.35 on the dollar. Odemay Corporation holds a $100,000 mortgage note receivable from Gonne that is secured by equipment with a $120,000 book value and a $75,000 fair value.


How much of the mortgage receivable will be recovered by Odemay?

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    Tutorial # 00635951 Posted By: rey_writer Posted on: 01/13/2018 10:07 AM
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