This means there's only a certain amount of money to be distributed, so there's no point in notifiy creditors who are too low on the list of priorities (there won't be any money left for them anyway)

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Note added at 3 days 23 hrs 7 mins (2003-12-16 14:29:24 GMT)
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In other words, if the bankruptcy assets are limited (as they almost always are), creditors need to have a rank on the list in order to get any of their money).
I learned that the hard way in Paris when a translation
agency that owed me 40,000 francs went bankrupt. The
first priority is the State, then banks, then
employees and way-way down at the bottom lowly
freelancers (you might want to remember that if one of
your agencies falls behind on payments).