不是说在破产的时候，所有的债权人偿还顺序都是一样的么？

问题如下：

In a bankruptcy proceeding, when the absolute priority of claims is enforced:

选项：

senior subordinated creditors rank above second lien holders.

preferred equity shareholders rank above unsecured creditors.

creditors with a secured claim have the first right to the value of that specific property.

解释：

C is correct.

According to the absolute priority of claims, in the event of bankruptcy, creditors with a secured claim have the right to the value of that specific property before any other claim.