general unsecured creditor

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

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

  • 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 Bankruptcy

  • 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… …   Glossary of Bankruptcy

  • 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

  • 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

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

  • creditor — cred·i·tor / kre də tər, ˌtȯr/ n: a person to whom a debt is owed; esp: a person to whom money or goods are due compare debtor, obligor general creditor: a creditor who is not secured by a lien or other security interest – called also unsecured… …   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

  • creditor — a person or business to whom money is owed. Glossary of Business Terms A party who is owed money by another party. American Banker Glossary lender of money. Bloomberg Financial Dictionary The party that receives assets from the debtor/originating …   Financial and business terms

  • Creditor — Lender of money. The New York Times Financial Glossary * * * creditor cred‧i‧tor [ˈkredtə ǁ ər] noun 1. [countable] ACCOUNTING COMMERCE a person or business to whom another person or business owes money: • The company said its largest creditor… …   Financial and business terms

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