Priority of Interest — Senior and Junior Creditors

Episode Summary: In this episode, attorney Steven Mirsky, partner at Mirsky Corporate Advisors, breaks down the critical issue of priority between senior and junior creditors. Drawing on real-world examples from restructurings, bankruptcies, and disputes, he explains how creditor priority impacts outcomes, why UCC1 filings are essential, and the risks when priority is challenged. Mirsky also discusses enforcement strategies, negotiation tactics, and key considerations for both creditors and debtors in distressed transactions. Key Timestamps: 01:10 – The importance of creditor priority and its real-world implications 03:00 – What UCC1 filings are and how they secure creditor rights 05:00 – When creditor priority is challenged in court and how disputes are resolved 07:20 – Enforcement strategies for senior creditors in default situations 09:15 – How junior creditors can negotiate leverage in disputes 10:30 – Using intercreditor agreements to maximize protection 12:15 – Nominee structures and their legal implications 13:40 – Early intervention before insolvency proceedings 15:00 – Litigation risks and opportunities in distressed transactions About the Show: Litigation and Capital with Steven Mirsky breaks down high-stakes legal issues affecting companies earning $10-100 million annually. The show helps business leaders turn complexity into leverage and protect their business assets through expert insights and practical advice.