Double Duty: UCC Definition of Goods Same for ' 503(b)(9)

As most practitioners know, the Bankruptcy Code imposes a specific priority scheme that controls the payment of claims. The higher the priority of a particular claim, the more likely it is to be paid. Generally, secured claims are paid first from the specific collateral backing that claim, followed by administrative priority claims, unsecured priority claims and then general unsecured claims. Equity takes last, assuming there is anything left.

14 minute read December 18, 2009 at 01:33 PM
By
By Francis J. Lawall and Nina M. Varughese
Double Duty: UCC Definition of Goods Same for ' 503(b)(9)

As most practitioners know, the Bankruptcy Code imposes a specific priority scheme that controls the payment of claims. The higher the priority of a particular claim, the more likely it is to be paid.

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