The first priority in liquidation under the bankruptcy laws is to pay:

Question

Quizplus · Accepted Answer

The first priority in liquidation under the bankruptcy laws is to pay the cost of administering the bankruptcy procedures. This includes payments to the bankruptcy trustee, attorney fees, and other administrative costs. Once the administrative costs are paid, the remaining assets are distributed to creditors according to their priority, with secured debt and senior debt taking precedence over trade creditors.

The First Priority in Liquidation Under the Bankruptcy Laws Is