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vorrangige Sicherung

English translation: senior security

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:vorrangige Sicherung
English translation:senior security
Entered by: Lee Penya
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13:43 Mar 13, 2008
German to English translations [PRO]
Law/Patents - Finance (general)
German term or phrase: vorrangige Sicherung
This appears in a "Bankbürgschaft" from a German company:

"Die Gesellschaft darf all von dem Kunden geleisteten Zahlungen und den Erlös aus der Verwertung von Sicherheiten, soweit diese nicht der Sicherung dieser Bürgschaft oder der ***vorrangigen Sicherung*** der verbürgten Forderung dienen, zunächst auf ihre durch diese Bürgschaft nicht geischerten Ansprüche anrechnen."
Lee Penya
Local time: 13:54
senior security
Explanation:
A security that has priority over other securities in the event of a claim or bankruptcy liquidation

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Note added at 36 mins (2008-03-13 14:20:30 GMT)
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loan security / collateral is fine.. these are also referred to as securities
Selected response from:

philippid
United Kingdom
Local time: 19:54
Grading comment
3 KudoZ points were awarded for this answer

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Summary of answers provided
5 +3senior security
philippid


Discussion entries: 1





  

Answers


17 mins   confidence: Answerer confidence 5/5 peer agreement (net): +3
senior security


Explanation:
A security that has priority over other securities in the event of a claim or bankruptcy liquidation

--------------------------------------------------
Note added at 36 mins (2008-03-13 14:20:30 GMT)
--------------------------------------------------

loan security / collateral is fine.. these are also referred to as securities

philippid
United Kingdom
Local time: 19:54
Specializes in field
Native speaker of: Native in GermanGerman, Native in EnglishEnglish
PRO pts in category: 19

Peer comments on this answer (and responses from the answerer)
agree  DC Josephs
39 mins

agree  KARIN ISBELL: top priority security would be an option
3 hrs

agree  babli: or preferential security. But Kareen's answer is right.
22 hrs
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