In a Chapter 7 Liquidation Proceeding,the Claims of Creditors Are

question 59

Multiple Choice

In a Chapter 7 liquidation proceeding,the claims of creditors are paid in which of the following order?

• A) Priority claims take precedence over claims made by secured and unsecured creditors.
• B) The claims of secured creditors are satisfied first,followed by priority claims,and lastly claims made by unsecured creditors.
• C) Older claims are given priority over more recent claims.
• D) Claims of secured creditor are satisfied first,followed by unsecured creditors,and lastly priority claims.

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