Legal Question in Bankruptcy in Texas
Who gets disbursements first in a bankruptcy case?
Asked on 8/05/09, 12:30 pm
1 Answer from Attorneys
Lawrence Maun Lawrence J. Maun, P.C.
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.
Answered on 8/05/09, 12:39 pm
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