Who is prioritized among creditors when the debtor's estate is insufficient to cover all debts, or upon declaration of bankruptcy (Falas)?

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When the debtor's assets are insufficient or bankruptcy is declared and the estate is to be divided among creditors, the highest priority, after those with claims related to bodily injury affecting the status of a pledged slave (if previously mentioned), is accorded to the holder of a pledge (Murtahin). The pledgee is singled out regarding the proceeds of the collateral from all other general creditors because their right is tied both to the specific asset (the collateral) and the debtor's liability, whereas other creditors' rights relate only to the liability. This priority due to the attachment to the asset is the most significant benefit of pledging, and there is no known dispute regarding this matter among the Shafi'i school, the Ashab ar-Ra'y, and others. The collateral is sold, and if the price covers the debt, the pledgee takes it. If there is a surplus, it is returned to the general creditors. If the debt remains outstanding, the pledgee takes the sale proceeds and shares the remainder of their claim proportionally with the other general creditors.