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Bonds and default on bonds. Municipal and corporate bonds.
https://www.fool.com/knowledge-center/what-is-a-bond-default.aspx

Bankruptcy
In a Chapter 7 bankruptcy, the company that files goes through a liquidation process. A trustee is appointed to sell off the company's assets, and creditors are paid based on the value of those assets.
In a Chapter 11 bankruptcy, the company that files will continue to operate while attempting to reorganize its debts.

Though bondholders aren't first in line, they do take priority over stockholders.















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