- absolute priority rule
absolute priority rule n: a rule that provides for the satisfaction in full of claims of senior creditors before any payments can be made to junior creditors under a chapter 11 bankruptcy plan
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- absolute priority rule
USAThe principle of bankruptcy law requiring the claims of a dissenting class of creditors must be paid in full before any class of creditors junior to such dissenting class may receive or retain any property in satisfaction of their claims.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
Look at other dictionaries:
absolute priority rule — In a Chapter 11 Plan, the debtor in possession must completely satisfy the claims of a higher, dissenting class before the claims of classes lower in priority can participate in the reorganization. Thus, a corporate debtor s shareholders cannot… … Glossary of Bankruptcy
absolute priority rule — principle that creditor s demands outweigh shareholder s demands for payment in the event of a company s liquidation (Economics) … English contemporary dictionary
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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. The New York Times Financial Glossary … Financial and business terms
absolute priority — Rule in bankruptcy proceedings requiring senior creditors to be paid in full before junior creditors receive any payment. Bloomberg Financial Dictionary … Financial and business terms
Rule of Absolute Priority — A condition of bankruptcy proceedings under which junior ( subordinated) claim holders can receive no payment until senior ( priority) claim holders are paid in full. Bloomberg Financial Dictionary … Financial and business terms
priority — priority, precedence can both mean the act, the fact, or, especially, the right of preceding another. When the reference is to the right, both terms usually imply an established or accepted code that determines which shall precede the other.… … New Dictionary of Synonyms
Rule in Dearle v Hall — The rule in Dearle v Hall (1828) 3 Russ 1 is an English common law rule to determine priority between competing equitable claims to the same asset. The rule broadly provides that where the equitable owner of an asset purports to dispose of his… … Wikipedia
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Cahn–Ingold–Prelog priority rules — The Cahn–Ingold–Prelog priority rules, CIP system or CIP conventions are a set of rules used in organic chemistry to name the stereoisomers of a molecule. A molecule may contain any number of stereocenters and any number of double bonds, and each … Wikipedia