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Which of the following positions would Galton support?
Priority Claims
In bankruptcy proceedings, debts that are entitled to be paid before other debts due to their importance as defined by law, such as taxes and employee wages.
Bankruptcy Estate
The collective pool of assets and liabilities that are considered part of a debtor's estate under the bankruptcy code, subject to legal proceedings and distribution.
Secured Claims
are creditor's claims that are protected by a security interest in the assets of the debtor, giving the creditor a right to repossess the collateral if the debtor fails to fulfill the obligations.
Unsecured Claims
Debts or claims for which the creditor does not have any collateral security.
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