Definition

Absolute priority

Absolute priority refers rule in bankruptcy proceedings requiring senior creditors to be paid in full before junior creditors receive any payment.

Share it:  Cite

More from this Section

  • Pro Forma Invoice
    Pro Forma Invoice is a sample invoice provided by an exporter prior to a sale or shipment ...
  • Incoterms 2010
    Incoterms 2010 is a set of 13 internationally standard trade terms which allows the parties ...
  • Indemnification
    Indemnification is compensation to the victim of a loss, in whole or in part, by payment, ...
  • Security Analysts and Traders
    Security analysts and traders are usually found in a bank’s bond department and in its ...
  • Bonded Goods
    Bonded Goods are the goods held in store under customs control after removal from wharf ...