Secured debt

(redirected from Secured Liabilities)

Secured debt

Debt that has first claim on specified assets in the event of default.

Secured Debt

A debt on which payment is guaranteed by an asset or lien. This means that a secured debt has collateral; if the debtor does not repay the debt in due course, the creditor has the legal right to take possession of the collateral and resell it to recover losses. In case of bankruptcy, the creditor is considered a secured creditor, which means the creditor receives proceeds from the sale of the collateral to satisfy the debt. If the collateral is insufficient, all secured creditors must have their debts satisfied before any unsecured creditors receive any funds.
References in periodicals archive ?
Secured liabilities of the Bank, comprised of Federal Home Loan Bank advances and repurchase agreements, were reduced $4.
Zarlink also understands that Mitel currently has insufficient funds to satisfy both its secured liabilities and obligations to all put holders.
Secured liabilities reduce the QSV to determine the net realizable value in more assets; the IRS does not consider unsecured liabilities.
Liabilities not subject to compromise are those secured liabilities incurred before the entity entered reorganization and all liabilities incurred after it entered reorganization.
The 'BBB' unsecured debt rating is premised on the immediate repayment of the secured liabilities, the absence of any general claims on the assets.
1 million in disputed secured liabilities, since reduced to $2.
From a broader ratings perspective, Fitch will continue to monitor the level of secured liabilities for a given FI relative to its overall funding mix.
The restoration plan introduces a risk-based assessment system in which banks with a greater dependence on secured liabilities and brokered deposits would face higher assessment rates.
As the sole secured creditor, Sento intends to renegotiate and pay off the unsecured and secured liabilities of Xtrasource utilizing only the cash and accounts receivable Xtrasource has at closing.