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general creditor

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General
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Financial Dictionary

general creditor

A lender with an uncollateralized loan, such as the owner of a debenture. In the event that a borrower goes bankrupt, its general creditors are likely to recover a smaller proportion of what is owed them than secured creditors will.

Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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General
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Legal Dictionary

Main Entry: general creditor
see CREDITOR
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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