Replies to post #33048 on Sears Holdings Corp. (fka SHLDQ)

[56Chevy]

So is this the pecking order?
1) super priority claims
2) administrative claims
3) secured creditor claims
4) unsecured creditor claims
5) preferred shareholder claims
6) common shareholder claims

In Chapter 11 cases yes it is however in a Chapter 7 case administrative claims become #1.

Tax claims are not on your list but fall between #3 secured ..and #4 unsecured claims.

Note: there are times absolute priority is not followed verbatim. For example there may be an unsecured creditor in a ch 11 reorg who is deemed critical to the operation and may get paid ahead of a more senior class of creditor.