priority of creditors

См. также в других словарях:

• priority — pri·or·i·ty 1 /prī ȯr ə tē/ n pl ties: precedence in exercise of rights in the same subject matter secured interests have priority over unsecured ones priority 2 adj 1: having precedence over another in the exercise of rights in the same subject …   Law dictionary

• priority debt — A type of debt that is paid first if any creditors are paid in a Chapter 7 bankruptcy case, and must be paid in full in a Chapter 13 bankruptcy case. Priority debts include alimony and child support, wages owed to employees, and fees owed to the… …   Law dictionary

• priority of claim — Claims of some employees, employee benefit plans, domestic support obligations, taxing bodies, and others may be entitled to payment prior to the claims of general unsecured creditors. Wages owed to employees for the last pay period prior to… …   Glossary of Bankruptcy

• priority —    In bankruptcy law, the right to collect before other creditors do so. Priority is given to taxing authorities, judgment holders, secured creditors, bankruptcy trustees, and attorneys. Priority is also given to mortgages, deeds of trusts, or… …   Business law dictionary

• Companies' Creditors Arrangement Act — Citation RSC 1985, c. C 36[1] Enacted by Parliament of Canada …   Wikipedia

• absolute priority — the order of payment to the different classes of creditors mandated by the Bankruptcy Code. Claimants with higher priority are paid in full before other claims receive anything. Junior creditors and shareholders are paid after senior creditors.… …   Glossary of Bankruptcy

• 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 — 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… …   Law dictionary

• Absolute Priority — A rule that stipulates the order of payment creditors before shareholders in the event of liquidation. The absolute priority rule is used in bankruptcies to decide what portion of payment will be received by which participants. Debts to creditors …   Investment dictionary

• deed of priority — An agreement, usually a deed, under which two or more creditors agree among themselves the rights which they shall have as between each other in relation to their debts from the same debtor and the order of priority in which their respective… …   Law dictionary

• preferential creditors — Creditors entitled to priority treatment in a liquidation or bankruptcy. They include occupational pension schemes and employees. Other unsecured creditors rank behind them. For further information, see the Insolvency Service website …   Law dictionary