20. Bankruptcy laws can make the government a shareholder in all businesses. Chapter 7 of the U.S. Bankruptcy Code (Liquidation) involves:

• Paying off the existing debt of a firm and negotiating new debt contracts.
• Terminating a firm and selling the assets based on their salvage value.
• Restructuring the debt and equity side of the firm.
• Restructuring only the debt side of the firm.