What is the meaning of Seniority?

Seniority is the order of repayment. In the event of bankruptcy, senior debt must be repaid before subordinated debt is repaid.

Barry Goldsmith
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APABarry Goldsmith. (2010). seniority. Retrieved September 25, 2026, from http://smartdefine.org/seniority/definitions/1163278
ChicagoBarry Goldsmith. 2010. "seniority" http://smartdefine.org/seniority/definitions/1163278 (accessed September 25, 2026).
HarvardBarry Goldsmith 2010, seniority, Smart Define, viewed 25 September, 2026, <http://smartdefine.org/seniority/definitions/1163278>.
MLABarry Goldsmith. "seniority" 21 October 2010. Web. 25 September 2026. <http://smartdefine.org/seniority/definitions/1163278>
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