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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.

 
 Embedded terms in definition
 Bankruptcy
Senior

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We are at our very best, and we are happiest, when we are fully engaged in work we enjoy on the journey toward the goal we’ve established for ourselves. It gives meaning to our time off and comfort to our sleep. It makes everything else in life so wonderful, so worthwhile. - Earl Nightingale

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