Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

subordinate debt

Read a random definition: State Justice Institute

A quick definition of subordinate debt:

Subordinate debt is a type of debt that is considered less important than other types of debt. This means that if a borrower cannot pay all of their debts, the subordinate debt will be paid last. It is like being at the back of the line. Other types of debt, like secured debt or priority debt, will be paid first.

A more thorough explanation:

Definition: Subordinate debt is a type of debt that is considered inferior or junior to other types or classes of debt. It means that if the borrower defaults on their payments, the holders of subordinate debt will be paid after the holders of other types of debt.

Example: A company issues bonds to raise money. The bonds are divided into two classes: senior bonds and subordinate bonds. The senior bonds have priority over the subordinate bonds, which means that if the company goes bankrupt, the holders of senior bonds will be paid first, and the holders of subordinate bonds will be paid later, if at all.

This example illustrates how subordinate debt is considered less secure than other types of debt because it has a lower priority in the event of default.

subordinate debenture | subordinate legislation

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
11:11
nothing you dont already know
Dkk
11:12
Lmfao, damn out of messages again. Time to go sit in the hot tub.
11:12
@BulbasaurNoLikeCardio: honestly fuck these schools
11:12
The way they act is so cringe and gives mad ick
babycat
11:12
@BulbasaurNoLikeCardio: people are saying this has been a pattern with them
babycat
11:12
imagine being a religious school and not supporting mothers. practice what you preach!
11:12
Fuck dem hoes
11:13
Child bearing people*
11:13
i cant spell fuck dont correct me
11:15
Anywayyyyy, i think today i will withdraw all my apps
11:15
This lsat is not doing it
babycat
11:15
lol live ur truth
11:15
ASU at 154 is damn good
11:15
154 scholly
BulbasaurNoLikeCardio
11:15
It is shitty that was a pattern of behavior but I am glad someone is finally standing up for themselves. Like I can be a pretty rigid butthole guy when it comes to getting stuff but a complete lack of empathy or situational awareness shown by the school and their staff is mind blowing. When I was talking about it in the office they all thought I was lying cause it sounds so crazy.
Dkk
11:16
@babycat: ahh link me something. Idk what you are talking about with GTown and mothers and all that.
11:16
Idk if any of you watch UFC but one time interim heavyweight champ Tom Aspinall won a fight and said on the mic afterwards “if you feel scared to do something, that’s a pretty good sign you should just go fucking do it” and I believe that applies very much to people wondering if they should R&R. Sure you can but why not just see what happens now?
babycat
11:16
School fucked up so bad they got hellwoods to sign a petition
11:16
Ive also heard their career center is awful too, I think its why it will never be anything but 14-15
JumpySubsequentDolphin
11:17
@Dkk: i think a law student was pregnant and due to give birth a few days before finals and they refused to accomodate her
JumpySubsequentDolphin
11:17
accommodate*
11:17
@Mostlylegal: yeah and i was thinking fuck it just go party for three years but i got other options and need to start building, top law schools were worth that 3 year pause but i am not sure i can do that for asu and their outcomes
11:19
Also I just got diagnosed with ADHD is it stupid if I dont take the test again now that Im medicated?
Dkk
11:19
She offered to take it early? Should have given her that one. Remote I can understand saying no to but taking it early, yes.
babycat
11:20
big things coming for babycat. I own a resistance band now
concorde
11:20
@renard99: jones needs to take this advice and fight aspinall
11:21
is that what they are calling punk rock bands these days?
BulbasaurNoLikeCardio
11:21
@babycat: did you get a booboo or just trying to do more workouts at home?
11:21
@Mostlylegal: I jumped six points after beginning adhd meds. Might be worth it
LSD+ is ad-free, with DMs, discounts, case briefs & more.