In a Chapter 7 bankruptcy case,what is the first-to-last ranking order of priority for payment? (Use the following list of claim types . )
I.stockholder claims
II.unsecured priority claims
III.secured claims
IV.unsecured nonpriority claims

Question

Quizplus · Accepted Answer

In Chapter 7 bankruptcy, secured claims are paid first, followed by unsecured priority claims, then unsecured nonpriority claims, and finally stockholder claims.

In a Chapter 7 Bankruptcy Case,what Is the First-To-Last Ranking