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Unsecured Liability
(redirected from Unsecured Liabilities)

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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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The remaining proceeds will be utilized to pay unsecured liabilities in accordance with applicable law and certain advisors' fees and expenses.
Ronson Corporation (n/k/a RCLC, Inc.) Announces Completion of the ... by PR Newswire
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.
WHAT NOW FOR BLUEBIRDS? On Wednesday, Cardiff City were given 56 days ... by South Wales Echo (Cardiff, Wales)
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.
Devil still in the detail for LDV; city view by The Birmingham Post (England)
 
 
 
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