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Absolute Priority |
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Absolute priority Rule in bankruptcy proceedings requiring senior creditors to be paid in full before junior creditors receive any payment. Absolute Priority A rule stating that, in liquidation, certain creditors must be satisfied in full before any other creditors receive any payments. That is, in the liquidation of a company, the absolute priority rule states that holders of secured debt must be paid before holders of unsecured debt. Holders of unsecured debt have precedence over preferred shareholders, and, finally, preferred shareholders must be satisfied before common shareholders. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| ? Mentioned in | ? References in periodicals archive | |
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The sole
exception to this absolute priority on good behavior was the king and
his siblings. (3) The rapid advance of 2nd British
Army to Brussels, Antwerp and beyond persuaded Montgomery that the war
could be won in 1944 if absolute priority was given to his single thrust
across the Rhine. ``Traffic and parking are an absolute priority,'' said
Phil Tucker, director of operations at California Speedway. |
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