seniority


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Seniority

The order of repayment. In the event of bankruptcy, senior debt must be repaid before subordinated debt is repaid.

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.

seniority

The condition or status of a security that has priority over other securities by the same issuer with respect to the payment of income (that is, interest or dividends) and repayment of principal. As an example, for the same issuer, bonds have seniority over preferred stock and preferred stock has priority over common stock. See also junior security.
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It was their case that since they had entered the Office upon taking oath on February 19, their seniority should be reckoned from such date and that of Justice Irfan from February 20.
SC links judges' seniority with date of oath-taking
However, the seniority of powerful bureaucrats, including the principal secretary to the prime minister, may be affected if the SC order is implemented as inclusion of the officers whose seniority was restored by the apex court may reduce his seniority.
Board holds off decision on promotion of bureaucrats
Ragosta said it is Davies' educational policy to subordinate teacher seniority to merit-based factors in all its staffing decisions.
Teacher recall decision based on seniority deemed arbitrable
'This raises legitimate concern that while dispensing with seniority, the power to elevate judges in the SC might be subjected to arbitrariness and favouritism.
PHC's Justice Afridi elevated to top court
Seniority was launched in 1997 as a wholly-owned subsidiary of ABHOW, American Baptist Homes of the West, which is part of Cornerstone Affiliates.
Senior Quality Lifestyles in Talks to Purchase Senior Housing Marketing, Sales Firm Seniority
The four-year-old has seen plenty of racing with 37 outings under his belt so far and with eight wins on his record, Classic Seniority is far from a back-number and now sits on a career-high rating of 90.
Seniority to rule at Haydock
"My sole intention throughout this whole process was to regain my seniority - a seniority that took me 60 years of hard work to achieve.
Dundalk bookmaker's court award 'a hollow victory'
....US$10000M Multiple Seniority Bank Note Program, Affirmed (P)A3
Moody's affirms Fifth Third
A five-member bench of Chief Justice Tasadduq Hussain Jillani resumed the hearing of a plea on the seniority case of a Lahore High Court (LHC) judge.
Judges\' seniority case Seniority be considered from day of permanent appointment: SC
25 based on claims their seniority was unfairly stripped when the two airlines merged in 2010.
Six former Continental Airlines pilots have filed a class-action lawsuit against their own union
Perhaps those were times of great political elation for Nawaz Sharif, what with his heavy mandate, and he did not care much about such things as 'seniority' in the services and the need for application of the 'seniority principle' regarding appointment of service chiefs.
A Matter of Choice
Finland is contesting the wording of an agreement struck last week in Brussels, arguing it doesn't adequately address the possibility that loans to Spain from Europe's permanent rescue fund can give taxpayers seniority. A June 29 statement from the 17 euro-area leaders stripping the European Stability Mechanism of its preferred creditor status in Spain was incomplete, said Martti Salmi, a Finnish Finance Ministry official.
FINLAND CONTESTS SENIORITY CLAUSE IN SPAIN'S BANK BAILOUT

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