2. Seniority Ranking and Priority of Claims

c. describe seniority rankings of corporate debt and explain the potential violation of the priority of claims in a bankruptcy proceeding;

In finance, what is does seniority refer to? In finance, seniority refers to the order of repayment in the event of a sale or bankruptcy of the issuer.

If a debt issuer goes bankrupt does secured or unsecured debt take priority? In general, secured debt takes priority over unsecured debt if the issuer goes bankrupt.