From Longman Business Dictionarysenior creditorˌsenior ˈcreditor [countable]ACCOUNTING when a business goes bankrupt, a creditor who will be paid before junior creditors, or who will get a larger percentage of what they are owedSenior creditors could receive as much as 98% of their allowed claims under the bankruptcy agreement, while junior creditors could only receive 5% to 10%. → creditor
