Priority Claim

From Conservapedia

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.


Categories: [Legal Terms] [Bankruptcy]


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