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n a bankruptcy proceeding, when the absolute priority of claims is enforced: senior subordinated creditors rank above second lien holders. creditors with a secured claim
n a bankruptcy proceeding, when the absolute priority of claims is enforced:
senior subordinated creditors rank above second lien holders. | ||
creditors with a secured claim have the first right to the value of that specific property. | ||
preferred equity shareholders rank above unsecured creditors. |
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