The-definition.com

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

  • Gross National Product (GNP)
    Gross National Product (GNP) is the total market value of finished goods and services ...
  • Reasons for Existence of Clearing Union
    Among the basic reasons for the formation of a clearing union, the following can be mentioned: i) ...
  • Traditional IRA
    Traditional IRA is an IRA that allows workers to deduct part or all of their IRA contributions ...
  • Great Recession
    Great Recession was a broad decrease in national economies including gross domestic products ...
  • Asset swap
    Asset swap is an interest rate swap used to alter the cash flow characteristics of an ...