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