General Creditor


Also found in: Financial.

General Creditor

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.

References in periodicals archive ?
Additionally, if Bank forecloses and sells LuxuryOne, any other general creditor might later argue that the sale was a fraudulent transfer.
As a result of the agreement between MFGI and MFGUK, it is estimated that between US$500 million and US$600 million would be ultimately returned to the MFGI estate, depending on final payout rates from the MFGUK client money and general creditor estates.
An estimated $27 million of the settlement money will come from two general creditor claims, officials said.
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.
If the solvent counterparty is a net creditor, the solvent counterparty becomes a general creditor for the net amount.
Obviously, the foregoing represents a scenario no general creditor desires to be caught up in.
Part I examines how the prototypical general creditor has changed.
The CEO's contract proposal specified that he would receive no preference; he'd just be a general creditor.
the executive's rights to the benefits are no better secured than those of a general creditor of the association).
In determining whether there has been a qualified assignment, any provision that grants the recipient rights as a creditor greater than those of a general creditor will be disregarded under Sec.
In the event of a bankruptcy, however, the CEO or executive would be a general creditor.
In the event of insolvency of the lender selling the participation, the Trust may be treated as a general creditor of the lender and may not benefit from any setoff between the lender and the borrower.

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