Get spiked by email. Today, we are forever scrutinising our dialogue and conversation, looking out for offensive and insulting content. Of course, words, especially demeaning or degrading ones, have always had the capacity to hurt peopleâs feelings. But itâs different today.
Observers have ruminated on the potential value of the works at the Detroit Institute of Arts, the city's collection of classic cars, even its zoo animals. But the sale of any of those assets would just be a drop in the bucket. At $18 billion, Detroit's staggering debt is simply a lot to wrap one's head around. Even the city couldn't fully comprehend the magnitude, it seems, until Emergency Manager Kevyn Orr actually went ahead and filed for Chapter 9 bankruptcy. How could a city of 701,475 people rack up $18 billion in debt?
DEFINITION of 'Junior Debt'. Junior debt is debt that is either unsecured or has a lower priority than of another debt claim on the same asset or property. It is a debt that is lower in repayment priority than other debts in the event of the issuer's default. Junior debt is usually an unsecured form of debt, meaning there is no collateral behind the debt. Next Up.