/ˈpraɪˌɒrɪti əv ˈkrɛdɪtərz/ – Phrase
Definition: thứ tự ưu tiên đáp ứng yêu cầu của chủ nợ.
A more thorough explanation: Priority of creditors refers to the order in which creditors are entitled to receive payment from a debtor’s assets in the event of insolvency or liquidation. This order is typically determined by law or by the terms of the relevant agreements, with certain creditors having priority over others based on factors such as the type of debt owed, the timing of the debt, and any security interests held by the creditors.
Example: In the bankruptcy proceedings, the court will determine the priority of creditors to ensure that secured creditors are paid before unsecured creditors.