Series 79: 14.3.1. Classes

Taken from our Series 79 Online Guide

14.3.1. Classes

The bankruptcy court splits up creditors and interest holders into classes, with each class made up of those with substantially similar claims or interests. At the very least, this means that the classes must separate claims and interests according to priority. For example, secured and unsecured claims cannot be grouped together in the same class. In large bankruptcies, claims/interests of the same priority might be further divided into smaller classes.

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