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Absolute priority

• Rule in bankruptcy proceedings whereby senior creditors are required to be paid in full before junior creditors receive any payment.

 
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 Bankruptcy
Senior

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How to Ace Your First Test Managing Real Money in the Real World: As a teen, you're beginning to make some grown-up decisions about how to save and spend your money. That's why learning the right ways to manage money…right from the start…is important. Here are suggestions. More...

Let the refining and improving of your own life keep you so busy that you have little time to criticize others. - H. Jackson Brown, Jr.

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