The Unsecured Bonds That Do Not Have the First Claim

question 103

Multiple Choice

The unsecured bonds that do not have the first claim in a bankruptcy proceeding are called _________. They will only be paid if funds remain after payment on other bond issue has been satisfied during a liquidation.

• A) senior indentures
• B) senior debentures
• C) subordinated indentures
• D) subordinated debentures
• E) plain vanilla bonds

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