Circular Priority Systems

What should be done when an inadequate fund is to be distributed amongcompeting claimants and under applicable rules of law, A is entitled to priorityover B, who is entitled to priority over C, who is entitled to priority over A?Or, in a variant, when B and C have claims entitled to equal priority, one ofwhich is superior, the other inferior, to A\u27s claim? The problem has longentertained lawyers, particularly those in whom a speculative turn of mind isallied with some proficiency in mathematics. Several exceedingly complexall-purpose theoretical solutions have been proposed. These have been ignored by the courts. A judge who finds himself face to face with a circular priority system typically reacts in the manner of a bull who has been goaded by the picadors: he paws the ground and roars with rage. The spectator can only sympathize with judge and bull