Bankruptcy and Insolvency R07-11B

Provide the order of priority of debts in a bankruptcy distribution.

1. Secured creditors – perfected then unperfected.
2. Alimony and child support.
3. Administrative claims.
4. Middleman debts.
5. Unpaid wages, which carries a limit.
6. Unpaid employee benefit claims, which carries a limit.
7. Farmers and fishermen.
8. Deposits for consumer goods, which carries a limit.
9. Unpaid taxes.
10. Death or personal injury expenses caused by an intoxicated driver.
11. Everybody else – general unsecured pool.