Debentureholders have a prior claim and accept the least risk.
债券持有人有优先索赔权，风险最小。
2
If debenture interest is not paid, the trust deed may allow the debentureholders to appoint a receiver to sell sufficient assets for the debenture to be paid.
当债务人无法向债权人支付收益时，债权人可以根据契约向指定的委托管理人出售相应的资产来进行偿付。
3
This is in sharp contrast with some common law jurisdiction in which it is mandatory for listed debentures to appoint a trustee to protect debentureholders' interests.