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The issuance of an order for relief by a bankruptcy court affects the creditors in different ways. The most favorable position is held by a
The issuance of an order for relief by a bankruptcy court affects the creditors in different ways. The most favorable position is held by a secured creditor. (S)he C) Is a secured party with regard to the whole of any claim if the value of the collateral is at least 50% of the debt. B) Must nevertheless file a proof of claim. D) May receive a nonvoidable preference in the form of a security interest given within 90 days of filing although the original debt was intended to be unsecured. A) May petition for relief from the automatic stay of proceedings against the debtor
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