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General Creditor

   Also found in: Financial 0.01 sec.

An individual to whom money is due from a debtor, but whose debt is not secured by property of the debtor. One to whom property has not been pledged to satisfy a debt in the event of nonpayment by the individual owing the money.



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However, should the employer become insolvent, the trust's assets would become subject to the claims of the employer's general creditors.
“The landlord could file a claim against the general receivership and would then become part of the general creditor class,” he said, referring to the legal entity made up of WaMu liabilities not acquired by JPMorgan Chase.
I would have the FDIC declare that we are in a financial emergency and during this period of crisis, the FDIC will not allow any general creditor of a bank to suffer a loss when the bank fails.
 
 
 
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