HomeDefinitionsCompareDebt Prior lien bondThe financial definition for Prior lien bond:A bond usually arising from reorganization with precedence over another bond of the same issuing company that is equally secured. Similar MatchesAbsolute priorityAbsolute priorityRule in bankruptcy proceedings requiring senior creditors to be paid in full before junior creditors receive any payment. Prior preferred stockPrior preferred stockPreferred stock that has a higher claim on all dividends and assets in liquidation than claims of other preferred stock. PriorityPriorityUsed for listed equity securities. System used in an auction market, in which the first bid or offer price is executed before other bid and offer prices, even if subsequent orders are larger. NYSE rules stipulate that the bid made first should be executed first, or if two bids came in at once, the bid for the large number of shares receives "priority." The bid not executed is then turned to the broker, who informs the customer that the trade was not completed because there was stock ahead. See: Standing. Further SuggestionsRule of Absolute PriorityClick to compare definitions of Prior lien bond Click to view definitions beginning pr |