4 ms·
>- In theory, secured creditors should be ahead in line and always get paid ahead of unsecured creditors. Some classes of unsecured creditors that are paid out
by ABCLAW 7y ago
>- In theory, secured creditors should be ahead in line and always get paid ahead of unsecured creditors.
Some classes of unsecured creditors that are paid out before others are employees, pensioners or people with support claims.
These people often have what's known as 'super priority' status. So not only are 'some' unsecured creditors afforded more security; they're often the ones society deems at risk, with the least leverage and the most need for the money.