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In a hierarchical organization,the upper level consists of:
Chapter 7
A provision under the U.S. Bankruptcy Code that allows individuals or businesses to liquidate their assets to pay off creditors.
Reduces to Money
The process of converting assets or damages into their monetary value.
Secured Creditor
A lender that has the right to claim specific assets of the borrower as collateral in case of default.
Order of Priority
The sequence or ranking used to determine the importance or urgency of different items, claims, or needs.
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