The totem pole in Bankruptcy. Who gets paid first? - JD Supra (press...

The totem pole in Bankruptcy. Who gets paid first?
JD Supra (press release)
Chapter 7 bankruptcies have a hierarchy of creditor claims that is the result of the legislative process. The totem pole was carved with an attempt at fairness and common sense, but naturally has politics painted on it. This hierarchy described below ...