Senior debt

Senior debt – this legal term finds application in the area of Insolvency Law in some jurisdictions. Therte it details a secured debt, which has priority among other debts, and should be repaid first to creditors. For example privileged (senior) debts could be these towards the State or Municpality, the secured debts with legal burdens or mortgages, special pledges, etc. A synonym is “privileged debt”.

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