Secured Creditor

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Also found in: Dictionary, Financial.

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 ?
Secured creditors come next, although they can realize on their securities outside of the bankruptcy.
A secured creditor may waive his security lien by making a manifestation to that effect prior to the election of a liquidator.
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.
Maynard argued that the condition discussed by Neff was intended by Congress as an "other" condition, one that is supposed to come into the process after an auction is completed, not one that supersedes other conditions guaranteeing the credit bidding right of secured creditors.
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.
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.
In addition, many observers caution that the EPA might be sued by environmentalists and manufacturers in the coming months because the new regulation far exceeds the statutory exemption for secured creditors.
Secured creditors usually are asked to take payments 20% to 40% less than they are owed.
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.