undersecured creditor

undersecured creditor
USA
A creditor holding an undersecured claim. Undersecured creditors hold a secured claim to the extent of their collateral and an unsecured claim for the deficiency. In bankruptcy, such creditors are entitled to adequate protection of the secured portion of their claim. They are generally not entitled to be paid postpetition interest.
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Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • undersecured claim — USA A claim held by a creditor that is secured by property worth less than the full amount of the claim. Related terms: undersecured creditor Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com …   Law dictionary

  • undersecured claim — A secured claim where the collateral value is less than the amount due and owing the secured creditor (SA Bankruptcy.com) A debt secured by property that is worth less than the amount of the debt. (BankruptcyAction.com) United Glossary of… …   Glossary of Bankruptcy

  • bankruptcy — /bangk rupt see, reuhp see/, n., pl. bankruptcies. 1. the state of being or becoming bankrupt. 2. utter ruin, failure, depletion, or the like. [1690 1700; BANKRUPT + CY] * * * Status of a debtor who has been declared by judicial process to be… …   Universalium

  • Automatic stay — In bankruptcy law, an automatic stay is an automatic injunction which halts actions by creditors, with certain exceptions, to collect debts from a debtor who has declared bankruptcy. Under section 362 of the United States Bankruptcy Code,… …   Wikipedia

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