Secured Creditor

A creditor holding a secured claim (www.practicallaw.com/2-382-3800), or a perfected lien (www.practicallaw.com/7-382-3685), on a debtor's property. In bankruptcy, a secured creditor has the right to be paid before any other creditors out of the proceeds of its collateral (www.practicallaw.com/3-382-3343). Secured creditors have other rights in bankruptcy, including the right to receive postpetition (www.practicallaw.com/6-383-1068) interest, fees, costs and charges and to receive adequate protection (www.practicallaw.com/8-382-3213) for any decrease in the value of their interest in the collateral resulting from any use, sale, lease, or grant of a lien (www.practicallaw.com/8-382-3581). They also have the ability to credit bid (www.practicallaw.com/2-500-6604) their claims in a section 363 sale (www.practicallaw.com/0-386-0841) of their collateral.

{ "siteName" : "PLC", "objType" : "PLC_Doc_C", "objID" : "1247244887398", "objName" : "Secured Creditor", "userID" : "2", "objUrl" : "http://us.practicallaw.com/cs/Satellite/us/resource/0-382-3801?null", "pageType" : "Resource", "academicUserID" : "", "contentAccessed" : "true", "analyticsPermCookie" : "2-100ccc5e:149f090bdf2:4ff9", "analyticsSessionCookie" : "2-100ccc5e:149f090bdf2:4ffa", "statisticSensorPath" : "http://analytics.practicallaw.com/sensor/statistic" }