general, unsecured claim

general, unsecured claim
Creditor's claim without a priority for payment for which the creditor holds no security (or collateral). If the available funds in the estate extend to payment of unsecured claims, the claims are paid in proportion to the size of the claim relative to the total of claims in the class of unsecured claims. (Bankruptcy in Brief)

United Glossary of Bankruptcy Terms 2012.

Glossary of Bankruptcy.

Look at other dictionaries:

  • general unsecured claim — USA A creditor s claim which is not secured by any collateral and for which there is no priority for payment (they are neither administrative claims nor priority claims). If there are estate funds available to pay creditors holding such claims,… …   Law dictionary

  • unsecured claim — USA A claim held by a creditor who does not have a perfected lien or a right of setoff against the debtor s property. There is no collateral securing the claim. Unlike general unsecured claims which have no priority, unsecured claims may or may… …   Law dictionary

  • general 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… …   Law dictionary

  • claim — A right to payment (SA A right to payment, whether or not fixed, contingent, liquidated, disputed, or matured. (Bernstein s Dictionary of Bankruptcy Terminology) BAR DATE The date by which claims must be filed with the Bankruptcy… …   Glossary of Bankruptcy

  • unsecured creditor — see creditor Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. unsecured creditor …   Law dictionary

  • general creditor — see creditor Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. general creditor …   Law dictionary

  • General Motors Chapter 11 reorganization — The General Motors Chapter 11 sale of the assets of automobile manufacturer General Motors and some of its subsidiaries was implemented through section 363 of Chapter 11, Title 11, United States Code in the United States Bankruptcy Court for the… …   Wikipedia

  • claim — To demand as one s own or as one s right; to assert; to urge; to insist. A cause of action. Means by or through which claimant obtains possession or enjoyment of privilege or thing. Demand for money or property as of right, e.g. insurance claim.… …   Black's law dictionary

  • Unsecured debt — In finance, unsecured debt refers to any type of debt or general obligation that is not collateralized by a lien on specific assets of the borrower in a bankruptcy or liquidation.In the event of the bankruptcy of the borrower, the unsecured… …   Wikipedia

  • general creditor — A creditor whose claim is unsecured by mortgage, judgment lien, or other lien, and is not entitled to priority. Stepp v McAdams (CA9 Cal) 97 F2d 874; Dempsey v Pforzheimer, 86 Mich 652, 49 NW 465; Wolcott v Ashenfelter, 5 NM 442, 23 P 780 …   Ballentine's law dictionary

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