Answer:
The redistribution of properties throughout liquidation according to Chapter 7 shall be regulated by that of the preceding precedence of allegations:
Step-by-step explanation:
- Past-due payments on the land.
- Safeguarded shareholders who have been qualified to the purchase price of such a particular property that has been guaranteed for something like a bond as well as a mortgage.
- Legal costs and several other charges for the administration and service of a failed company.
- Wages owed employees if they are received within three months of submitting a bankruptcy case.