priority of claim
priority of claim
Claims of some employees, employee benefit plans, domestic support obligations, taxing bodies, and others may be entitled to payment prior to the claims of general unsecured creditors.
Wages owed to employees for the last pay period prior to filing the bankruptcy petition will probably be priority claims, up to $10,000.
also see claim (Bernstein's Dictionary of Bankruptcy Terminology)

United Glossary of Bankruptcy Terms 2012.


Glossary of Bankruptcy.

Look at other dictionaries:

  • Priority of debts — Priority Pri*or i*ty, n. [Cf. F. priorit[ e]. See {Prior}, a.] 1. The quality or state of being prior or antecedent in time, or of preceding something else; as, priority of application. [1913 Webster] 2. Precedence; superior rank. Shak. [1913… …   The Collaborative International Dictionary of English

  • priority — pri·or·i·ty 1 /prī ȯr ə tē/ n pl ties: precedence in exercise of rights in the same subject matter secured interests have priority over unsecured ones priority 2 adj 1: having precedence over another in the exercise of rights in the same subject …   Law dictionary

  • claim — A right to payment (SA Bankruptcy.com) A right to payment, whether or not fixed, contingent, liquidated, disputed, or matured. (Bernstein s Dictionary of Bankruptcy Terminology) BAR DATE The date by which claims must be filed with the Bankruptcy… …   Glossary of Bankruptcy

  • Priority — Pri*or i*ty, n. [Cf. F. priorit[ e]. See {Prior}, a.] 1. The quality or state of being prior or antecedent in time, or of preceding something else; as, priority of application. [1913 Webster] 2. Precedence; superior rank. Shak. [1913 Webster]… …   The Collaborative International Dictionary of English

  • Priority right — In patent, industrial design rights and trademark laws, a priority right or right of priority is a time limited right, triggered by the first filing of an application for a patent, an industrial design or a trademark respectively. The priority… …   Wikipedia

  • Claim in bankruptcy — Bankruptcy in the United States Bankruptcy in the United States Authority · History U.S. Trustee Court  …   Wikipedia

  • Claim (patent) — Patent claims are the part of a patent or patent application that defines the scope of protection granted by the patent. The claims define, in technical terms, the extent of the protection conferred by a patent, or the protection sought in a… …   Wikipedia

  • claim — ▪ I. claim claim 1 [kleɪm] noun [countable] 1. COMMERCE a request or demand for money, or the amount of money asked for: • The developer made a claim against the owner for extra building costs. • There were very large claims for loss of earnings …   Financial and business terms

  • priority — The attribute or quality of that which is earlier or previous in point of time. Precedence. Of lien:–a superiority of security over other liens either in point of time or as declared by law from considerations of public policy. Of claim:–the… …   Ballentine's law dictionary

  • priority claim — An unsecured claim that is paid ahead of other unsecured claims based upon the priority scheme established by the Bankruptcy Code (SA Bankruptcy.com) See under claim; priority claim (Bernstein s Dictionary of Bankruptcy Terminology) An unsecured… …   Glossary of Bankruptcy

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”