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Senior Security |
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Senior security Senior Security A security that has higher priority compared to another in the event of liquidation. That is, if a company goes bankrupt and is liquidated, holders of secured debt must be paid before holders of unsecured debt. Holders of unsecured debt must be paid before preferred shareholders and finally, preferred shareholders must be satisfied before common shareholders. In the forgoing, each security is a senior security compared to the following one. See also: Absolute Priority Rule. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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