Bryan Corp.'s debt structure consists of 40% first lien, 30% senior secured debt, and 30% subordinated debt. According to pari passu (on an equal footing), which of the following statements is most accurate?

Only 40% of firstlien creditors will be repaid in case of bankruptcy.

The debt losses will be borne in the ratio of 40%, 30%, and 30% by the respective creditors in case of bankruptcy.

All the creditors in subordinated debt will have the same priority to claim irrespective of the amount in case of bankruptcy.