Texas | Bankruptcy
Legal Question
Who gets disbursements first in a bankruptcy case?
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Legal Answer
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Read More Answered By: Lawrence Maun |
The secured creditors are entitled to the value of their security, valued on the petition date. Administrative claims are paid next. These include most unsecured taxes, expenses of the administration of the bankruptcy estate, trustees fees, legal and other professional fees in connection with the administration of the estate. Unsecured creditors are paid from what remains, pro-rata. |
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