Secured Creditor

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Secured Creditor

One who holds some special monetary assurance of payment of a debt owed to him or her, such as a mortgage, collateral, or lien.

References in periodicals archive ?
But we finally have agreement between the secured creditors, Southern and the four cooperatives that are left in Southern.
Reuters has reported that the company will use the funds to pay back secured creditors and some unsecured claims.
The reality of the current climate is that for the majority of the businesses that are facing financial hardship, control vests with the secured creditors.
She also represented the secured creditor banks in the ANC Rental Corp.
In the event that the Chapter 11 should not succeed, and in the further event that the assets are insufficient to satisfy the secured creditor, the liability for unpaid taxes will fall upon the "responsible parties.
Court of Appeals for the 11th Circuit, which sits in Atlanta, issued a decision that substantially curtailed the CERCLA exclusion for secured creditors.
Those cases held secured creditors in certain situations strictly liable for the costs of cleanup of contaminated property of their borrowers.
Of course, the main reason you file for Chapter 11 is to get the bankruptcy court to approve a reorganization plan that you have negotiated with your unsecured and secured creditors.
Clements has indicated his plan will require additional capital from the secured creditors or other third parties.
TO), one of Truland Group, Inc's largest secured creditors, is looking to recoup as much of the losses as possible from its deal with Truland, a failed contractor.
The closing is subject to customary terms, including environmental and structural inspections, completion of closing documentation, delivery of vacant possession after removal of the assets being sold to the first purchaser, and approval of secured creditors.
LLC and its affiliated debtors ("Refco") today received Court approval to pay its secured creditors, including a group of banks led by Banc of America Securities, as agent, approximately $705 million to settle all secured claims against Refco.