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The FindLaw Legal Dictionary -- free access to over 8260 definitions of legal terms. Search for a definition or browse our legal glossaries.

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



Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.

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