Of the preferred creditors, the highest priority of claim is
A) expenses and fees of the trustee in bankruptcy.
B) the amount required by government to be deducted from employees' salaries.
C) up to three months of rent due to the landlord.
D) up to two years of municipal taxes.
E) up to $2000 arrears in wages per employee.

Question

Quizplus · Accepted Answer

The highest priority of claim among preferred creditors is typically the expenses and fees of the trustee in bankruptcy, as these are necessary for the administration of the bankruptcy process.

Of the Preferred Creditors, the Highest Priority of Claim Is