unsecured creditor

unsecured creditor
unsecured creditor see creditor

Merriam-Webster’s Dictionary of Law. . 1996.

unsecured creditor
A creditor may obtain priority to particular assets of a debtor if it defaults in which case he is said to be "secured". The unsecured creditor only has a claim to be paid so far as there are surplus assets available to pay him after secured and preferential creditors.

Easyform Glossary of Law Terms. — UK law terms.


unsecured creditor
USA
unsecured creditor, Also known as general creditor and general unsecured creditor.
A creditor holding an unsecured claim, or having no liens against a debtor's property. Unsecured creditors have no rights against specific property of the debtor.
Related terms:

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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Look at other dictionaries:

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