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Larry is owed money in two bankruptcies, X and Y. He is owed £28,500 as an unsecured creditor in bankruptcy X that pays £0.29 in the pound to unsecured creditors. He is also owed £40,000 in bankruptcy Y, as the sole secured creditor. The total assets of Y, after winding up expenses, realized £36,000.

Calculate how much he receives in total

Macroeconomics, Economics

  • Category:- Macroeconomics
  • Reference No.:- M91793092
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