Series 79: Absolute Priority Rule

Taken from our FINRA Investment Banking Exam

Definition of the term Absolute Priority Rule...

a legal principle in bankruptcy, according to which a claim or interest cannot be even partially paid, unless all claims and interests that take priority over it are fully paid.

Since you're reading about Series 79: Absolute Priority Rule, you might also be interested in:

Solomon Exam Prep Study Materials for the Series 79
Please Enable Javascript
to view this content!