What claims are “priority claims”?
Minneapolis Bankruptcy attorney Steven Silton defines priority claims in the context of bankruptcy.
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Priority claims are unsecured claims that are given certain priorities in a Chapter 7 or a Chapter 11 bankruptcy. Those claims can be things like tax debts, certain wage claims up to $4000.00, and a number of other delineated obligations that the bankruptcy code makes prior to and superior to ordinary unsecured obligations.