Final answer:
The claims of limited liability partnership creditors rank in none of the foregoing ways; creditors have priority over equity owners and the partners' loans against partnership assets in an LLP structure.
Step-by-step explanation:
When considering how the claims of limited liability partnership creditors rank in the marshaling of assets, it is important to understand the nature of limited liability partnerships (LLPs). In an LLP, the partners have limited personal liability, meaning that they are not personally responsible for the debts of the business beyond their investment in the partnership. This protection shields their personal assets from being used to satisfy business debts. In the event of a partnership's insolvency, the order of claims on assets is typically dictated by law.
Option A suggests that creditors' claims are second in priority to partners' loans against partnership assets. However, this option is not the universally applied standard. Option B posits that creditors' claims rank second to partners' personal creditors against personal assets, but this mixes the partnership's obligations with personal obligations, which, in an LLP, are generally separate. Option C implies that creditors' claims are part of the total owners' equity, which is not the case; creditors have claims against assets before equity owners. Therefore, the correct answer is Option D: In none of the foregoing ways. Creditors of a limited liability partnership would have claims against partnership assets prior to partners' claims of equity or loans.