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This assignment stresses that level 5 refers to the highest level in a hierarchy of executive capabilities. A level 5 Leader is a term used to refer to a person who is remarkably modest on a personal level. Upon any payment or distribution of assets to creditors upon any liquidation, dissolution, winding up, reorganization, assignment for the benefit of creditors, marshaling of assets or any bankruptcy, insolvency, debt restructuring or similar proceeding in connection with our insolvency or bankruptcy, the holders of senior debt will first be.