Undersecured Creditor | Practical Law
Undersecured Creditor
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Undersecured Creditor
Practical Law Glossary Item 9-383-6192
(Approx. 2 pages)
Glossary
Undersecured Creditor
A creditor holding an
undersecured claim
. Undersecured creditors hold a
secured claim
to the extent of their
collateral
and an
unsecured claim
for the deficiency. In bankruptcy, such creditors are entitled to
adequate protection
of the secured portion of their claim. They are generally not entitled to be paid
postpetition
interest.