General Creditor

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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 ?
General creditors are entitled to be paid in full before equityholders receive anything.
In most states, this will prevent general creditors from reaching any of the trust assets, and, in some states, it can bar a beneficiary's spouse from attacking the trust assets or claiming that they are marital property and therefore subject to the spouse's claim against the trust beneficiary's assets.
The provision of any law to the contrary notwithstanding, in case of insolvency of the pre-need company, the general creditors shall not be entitled to the trust fund.
LBI) trustee for the liquidation of the company under the Securities Investor Protection Act said the third interim distribution to unsecured general creditors with allowed claims has begun with checks totaling USD1.
The variable subaccount assets are held in a life insurance company's separate account, which is kept separate from its general account and protected from the life insurance carrier's general creditors.
Even worse, the general creditors of HotelCo can become obstacles to the restructuring by raising objections to any plan supported by Bank.
Before Gerhart can use proceeds from the PPACA "three R's" risk-management programs to pay general creditors, he must use the three R's money to reimburse the guaranty funds for paying the CoOportunity enrollees' medical bills.
subordinate to claims of depositors, general creditors of the bank, and
The separate account's assets are insulated from the insurer's general creditors.
Although this overcollateralization will provide further protection to investors, the FDIC will be entitled to any unused excess for general creditors.
Investors should know that, above FDIC limits, they become general creditors of the issuing bank.

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