unsecured creditor
unsecured creditor
a creditor who extended credit to a debtor without collateral security. If the debtor files for bankruptcy or is levied upon, the unsecured creditors are paid on a pro-rata basis only after the claims of all secured creditors are satisfied (Glossary of Common Bankruptcy Terms)

A creditor without a lien. Unsecured claims may or may not have priority.
Certain claims and wages for employees are unsecured claims. Most trade creditors are unsecured non-priority. (Bernstein's Dictionary of Bankruptcy Terminology)

one of two general types of creditors of a company. The unsecured creditors have no liens on the property of the company. (Common Bankruptcy Terms)

A creditor who holds no security but is either preferred or ordinary (Ontario Bankruptcy Dictionary)

United Glossary of Bankruptcy Terms 2012.

unsecured creditor
A creditor without a lien. Unsecured claims may or may not have priority. Certain claims and wages for employees are unsecured claims. Most trade creditors are unsecured non-priority.

US Bankruptcy 2012.


Glossary of Bankruptcy.

Look at other dictionaries:

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  • ordinary unsecured creditor — A general creditor who has no priority, no preferred treatment and no security (Ontario Bankruptcy Dictionary) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

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