> the biggest creditors usually get paid first In bankruptcy, the size of the claim doesn't determine its priority. The law determines claim priority, and the

> the biggest creditors usually get paid first In bankruptcy, the size of the claim doesn't determine its priority. The law determines claim priority, and the company doesn't have much discretion. First in line are secured creditors who lent against collateral. In Wow's case, the airplanes collateralize most of the debt. Then comes employees, taxes and bank loans. After that comes unsecured bonds. Next are unsecured creditors with unpaid invoices. After that is preferred stock. And if there is anything left over, it goes to common shareholders.