Subordination

{
  "id": "MLC-T-LAW-000213",
  "term": "Subordination",
  "field": "Law",
  "definitions": [
    "The act of ranking one debt or claim below another in terms of priority for repayment. This arrangement dictates the order in which creditors will be paid from a debtor's assets, particularly in the event of bankruptcy or liquidation. A subordinated debt will only be repaid after all senior debts have been satisfied.",
    "The act or process by which a person's rights or claims are ranked below those of others."
  ],
  "references": [
    "U.S. Courts Glossary of Legal Terms"
  ],
  "url": "https://mlchart.com/terminology/law/subordination/"
}