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Court Of Chancery Determines That Advancement Claim Is A General Creditor Claim

Andrikopoulos v. Silicon Valley Innovation Company LLC, C.A. 9899-VCP (July 30, 2015) and Henson v. Sousa, C.A. 8057-VCG (August 4, 2015)

These two decisions hold that an advancement claim should be treated as a claim of a general creditor by a company in liquidation. Hence, those claims do not get priority in payment along with administrative expenses of the receivership.

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