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What is superpriority?

Even with the debtor’s limited ability to dispose of property to operate its business, business debtors sometimes need additional loans for operating capital. In these cases, the debtor may obtain the necessary loan by having the court grant superpriority status to the new lender, which puts that lender ahead of other unsecured creditors with regard to repayment. Alternatively, the court may give the new lender secured status by approving the use of collateral.

Barry Rosenzweig
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Barry Rosenzweig, has 25 years experience as an attorney helping clients solve their legal problems.