Difference between revisions of "Priority claim"
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(New page: A '''priority claim''' is an unsecured claim that is entitled to be paid ahead of other unsecured claims that are not entitled to priority status in a bankruptcy proceeding. Pr...) |
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A [[creditor]] of a [[bankrupt]] [[debtor]] wants as high a priority as possible with respect to the [[creditor]]'s claims. | A [[creditor]] of a [[bankrupt]] [[debtor]] wants as high a priority as possible with respect to the [[creditor]]'s claims. | ||
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Latest revision as of 17:51, July 13, 2016
A priority claim is an unsecured claim that is entitled to be paid ahead of other unsecured claims that are not entitled to priority status in a bankruptcy proceeding. Priority refers to the order in which these unsecured claims are to be paid.
A creditor of a bankrupt debtor wants as high a priority as possible with respect to the creditor's claims.