/prɪˈfɜrd dɛt/ – Phrase
Definition: Nợ ưu tiên
A more thorough explanation: a debt (=money owed) that must be paid before all other debts
Example: The investigation is focused on potential breaches of fiduciary duty on the part of the Emulex Board of Directors involving a buy-back of Company shares and the issuance of convertible preferred debt.
