junior claim
Definition
Assertion of a right that is subordinate to other rights (such as the rights of a second mortgagee). These claims are lower in precedence than the prior (senior) claims, and a holder of a junior claim can usually be paid only after the holder of the senior claim has been fully paid. Also called subordinated claim.
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junior claim is in the Banking, Commerce & Finance, Corporate, Commercial, & General Law, Investing and Securities & Futures Trading subjects.
junior claim appears in the definitions of the following terms: subordinated claim and first mortgage
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