- secured and unsecured
Companies can issue a series of debentures or debenture stock, which essentially means secured loan stock. The instrument creates indebtedness owing by the company to the holder, usually carrying interest and maturing on a particular date when the principal amount is repaid. Debentures tend to be secured by a floating charge and/or a collection of fixed charges over the company's assets.
Easyform Glossary of Law Terms. — UK law terms.
Look at other dictionaries:
secured — protected or guaranteed as in the case of a loan where the lender holds the title of some asset until the borrower has repaid the loan in full. Glossary of Business Terms * * * secured se‧cured [sɪˈkjʊəd ǁ ˈkjʊrd] adjective FINANCE 1. a secured… … Financial and business terms
unsecured creditor — see creditor Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. unsecured creditor … Law dictionary
secured creditor — see creditor Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. secured creditor … Law dictionary
unsecured creditor — a creditor who extended credit to a debtor without collateral security. If the debtor files for bankruptcy or is levied upon, the unsecured creditors are paid on a pro rata basis only after the claims of all secured creditors are satisfied… … Glossary of Bankruptcy
Secured transactions in the United States — are an important part of the law and economy of the country. By allowing lenders to take a security interest in a debtor s asset as collateral, secured transactions provide lenders with greater confidence that they will be repaid. This increased… … Wikipedia
unsecured claim — a claim or debt for which a creditor holds no special assurance of payment; a debt for which credit was extended based solely upon the creditor s assessment of the debtor s future ability to pay (Glossary of Common Bankruptcy Terms) A pre… … Glossary of Bankruptcy
secured debt — debt backed by a mortgage, pledge of collateral or other lien. It is debt for which the creditor has the right to pursue specific pledged property upon default (Glossary of Common Bankruptcy Terms) A claim secured by a lien in the debtor s… … Glossary of Bankruptcy
secured claim — A loan or debt for which some form of property has been pledged or mortgaged (SA Bankruptcy.com) Where a claim is secured by a lien, the code limits that secured claim to the value of the property less any higher priority liens. Since the… … Glossary of Bankruptcy
unsecured debt — A debt that doesn t give the creditor the right to take a particular item of property if the debtor doesn t pay. Examples include credit card debts and medical bills. Compare: secured debt Category: Bankruptcy, Foreclosure & Debt → Bankruptcy… … Law dictionary
Secured loan — A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan. The debt is thus secured against the collateral in… … Wikipedia