unsecured liability

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Unsecured Liability

A debt or other liability that is not secured by an asset or lien, but rather by the all issuer's assets not otherwise secured. This means that an unsecured liability carries no collateral; in case of bankruptcy, the bondholder is considered a general creditor. Thus, the bondholder is paid out of funds that do not have a prior claim on them with a secured debt. Like most bonds, an unsecured bond is tradeable. Some unsecured bonds, such Treasury securities, are considered risk-free.

unsecured liability

A liability for which no specific collateral is held by a creditor. Essentially, payment on an unsecured liability is assured by the promise of the borrower.
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They listed $496,496 in secured liabilities, $70,027 in unsecured liabilities and $251,950 in assets, according to court documents.
This means that the guaranteed debt of the two issuers ranks equally with all the guarantors' other unsubordinated and unsecured liabilities.
E[pounds sterling] We have assigned a one notch uplift for senior unsecured liabilities in order to reflect potential government support (share of ownership and SAMBA's importance for the Saudi economy).
In papers before the Delaware bankruptcy court, Golfsmith International reported more than $195 million in funded debt, plus at least $38 million in unsecured liabilities.
credit positive for non-tradable senior unsecured liabilities -- for
Under Chapter 12, farmer debtors may treat certain claims owed to the government resulting from the disposition of farm assets as dischargeable, unsecured liabilities (11 U.
The credit rating on long-term unsecured liabilities until 2017 was also raised to Baa3.
However, if it refused to back one it could be powerless to do anything as its current debt is less than 25% of the club's total unsecured liabilities - providing that 75% of support in value terms was secured from other creditors.
The company's unsecured creditors can, however, take some comfort from the fact that Weststar has behaved honourably by putting up its cash while LDV remains a going concern, rather than waiting to pick it up out of administration free of its unsecured liabilities.
That's the message from Phillip Allen, partner in the Birmingham office of accountancy firm Baker Tilly who says he regularly gets involved with personal insolvency cases with unsecured liabilities over pounds 20,000.
The court-approved rehabilitation plan also calls for Nissan to repay 7% of unsecured liabilities over 10 years.
It discovered that Cargo Forwarding International plc was insolvent, having unsecured liabilities of more than pounds 340,000 and no assets.