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.
References in periodicals archive ?
Opening the meeting, Mr Johnson said: "My pledge to recruit 20,000 police officers over the next three years is an absolute priority and it will begin within weeks.
The Minister stressed that the absolute priority is the coordination of efforts to mobilize for the fight and noted that climate change and the characteristic of the Portuguese forest require a response that is already being given with the forest reform mechanisms and with the adapting municipal master plans to regional forest management plans'.
99% of are should who "The safety of our residents is our absolute priority and we take no risk when it comes to protecting people.
"My ministry @MinistryWCD has taken up the case of #TripleTalaq on absolute priority. The first instance post the passing of the bill, criminalising the act of instant divorce in the Muslim community will be dealt with and we shall ensure that justice is done," Gandhi wrote on Twitter.
NEW ZEALAND'S FIRST Maori chief nursing officer (CNO) Margareth Broodkoorn (right) says growing the Maori nursing workforce will be "an absolute priority" on her watch.
EFL chief executive Shaun Harvey (left) said: "The deal we have entered into with Sky, after fully testing the market through our advisors, allows our clubs the benefit of financial security, which was an absolute priority for us."
scheme--"absolute priority"--over and above what the
The completion of this process through the holding of a successful referendum and constitutional changes is of absolute priority for BDI and the citizens.
A Welsh Government spokesman said: "The safety of the travelling public is an absolute priority.
Housing officials say the move is a "precautionary measure to provide maximum reassurance", telling tenants of the 44 properties: "Safety is our absolute priority and we have made the decision to immediately replace the gas supply with an electrical-based alternative."
'We are giving it absolute priority and anticipate being able to resolve the issue over the coming days.'
"The absolute priority of the international community must be to pursue this fight," she urged.