Do longer term bondholders get preference in getting money back when a company defaults?

Who gets paid first in default?

secured creditors

When a company goes bankrupt, secured creditors get paid first. This includes secured bondholders. These are creditors who offered loans secured by physical assets. Usually they get paid by reclaiming their property.

Which bond type has the highest risk of default?

Corporate Bonds

Corporate Bonds
They are riskier than government-backed bonds, so they offer higher rates of return. They are sold by the representative bank. There are three types of corporate bonds: Junk bonds or high-yield bonds are corporate bonds from companies that have a big chance of defaulting.