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Unsecured Creditors
Creditors who have lent money without any specific collateral, standing at a higher risk in case of the debtor's bankruptcy.
Bankruptcy Petition
A formal request filed in court by an entity or individual seeking relief from their debts under the laws of bankruptcy.
Unsecured Liabilities
Obligations or debts of a company that are not backed by collateral, making them riskier for lenders.
Priority
The established precedence or importance assigned to a task, project, or obligation, influencing the order or sequence of actions.
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