Which one of the following circumstances is most likely to protect an individual creditor's interests in a formal bankruptcy proceeding? Which one of the following circumstances is most likely to protect an individual creditor's interests in a formal bankruptcy proceeding? The absolute priority rule can be violated. The indirect costs of bankruptcy may result in lost revenues and poor maintenance. The bankruptcy administrative costs may be high due to the length and complexity of the process. The creditor may hold liens on specific assets. The bankrupt firm's financial structure may be complicated with several groups and types of creditors