Absolute priority doctrine
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Absolute priority doctrine is a policy that states that claims must be paid in strict accordance with the priority of each claim, regardless of the consequence to other claimants.
Definitions
According to Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition),
- Absolute priority doctrine. States that claims must be paid in strict accordance with the priority of each claim, regardless of the consequence to other claimants.
Related concepts
- Financial management. A combination of enterprise efforts undertaken in order to procure and utilize monetary resources of the enterprise.
