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Priority in Insolvency Proceedings

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Authors
Oh, SooGeun; Song, Heejong
Issue Date
2007
Publisher
BK 21 law
Citation
Journal of Korean Law, Vol.7 No.2, pp. 283-331
Keywords
priorityinsolvencyrehabilitationbankruptcy
Abstract
Insolvency unveils the genuine virtue of the concept of priority. Attempts, however, have

proved that the task of arranging relevant claims in a single line of order according to their

priority is quite difficult and complicated in insolvency proceedings. The reason lies in the fact

that the concept of priority contains three factors; time, amount and method of collection. In

standard non-insolvency compulsory executions, the priority structure affords certain claims to

clearly precede others in time and amount. In this case, the superior creditor is entitled to be paid

in full before and to the exclusion of other junior creditors. There is no other method of collection.
ISSN
1598-1681
Language
English
URI
http://hdl.handle.net/10371/85133
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College of Law/Law School (법과대학/대학원)The Law Research Institute (법학연구소) Journal of Korean LawJournal of Korean Law Volume 07 Number 1/2 (2007)
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