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I thought back pay had a very high priority in bankruptcy. Are WARN act payments considered ordinary judgments rather than back pay?

• rayiner 11y ago
  Good point. I think unpaid wage judgments are given the same priority as unpaid wages. Either way they're behind secured creditors. If the company had bank loans secured by collateral, the banks may have dibs on the proceeds.
  • harryh 11y ago
    Venture debt would be unsecured though right? Probably all (or nearly all) of their debt falls into that category.
    • rayiner 11y ago
      Yeah if they have mostly venture debt it's probably not secured by collateral.