Senior security

Senior security

A security that, in the event of bankruptcy, will be redeemed before any other securities.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
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Senior security officials, including ISA chief Nadav Argaman, have taken note recently of apparent attempts by several foreign countries to interfere in the upcoming Israeli elections via cyber attacks.
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