Secured Creditor - Law Dictionary Search Results
Home Dictionary Name: secured creditorSecured creditor
Secured creditor, means any bank or financial institution or any consortium or group of banks or financial institutions and includes, (i) debenture trustee appointed by any bank or financial institution; or (ii) securitisation company or recon-struction company; or (iii) any other trustee holding securities on behalf of a bank or financial institution, in whose favour security interest is created for due repayment by any borrower of any financial assistance. [Securitisation and Recon-struction of Financial Assets and Enforcements of Security Interest Act, 2002 (54 of 2002), s. 2(1) (zd)]Secured creditor, means any bank or financial institution or any consortium or group of banks or financial institutions and includes--(i) debenture trustee appointed by any bank or financial institution; or(ii) securitization company or reconstruction company; or(iii) any other trustee holding securities on behalf of a bank or financial institution, in whose favour security interest is created for due r...
secured creditor
secured creditor see creditor ...
creditor
creditor : a person to whom a debt is owed ;esp : a person to whom money or goods are due compare debtor, obligor general creditor : a creditor who is not secured by a lien or other security interest called also unsecured creditor judgment creditor : a creditor who has a money judgment entered against the debtor and may enforce the judgment (as by attachment or writ of execution) known creditor : a creditor whose potential claim is known or should be known by a debtor and who is entitled to notice of a corporate dissolution or of a date at which claims will be barred (as in bankruptcy) lien creditor : a creditor who is secured by a lien (as by attachment) secured creditor : a creditor who has a security interest (as a mortgage) unsecured creditor : general creditor in this entry ...
lien
lien [Anglo-French, bond, obligation, literally, tie, band, from Old French, from Latin ligamen, from ligare to bind] : a charge or encumbrance upon property for the satisfaction of a debt or other duty that is created by agreement of the parties or esp. by operation of law ;specif : a security interest created esp. by a mortgage assessment lien : a lien that is on property benefiting from an improvement made by a municipality and that secures payment of the taxes assessed to pay for the improvement attachment lien : a lien acquired on property by a creditor upon levy of an attachment car·ri·er's lien : a lien against freight conferring on the carrier the right to retain the property until the amount due is paid charging lien : a lien attaching to a judgment or recovery awarded to a plaintiff and securing payment of the plaintiff's attorney's fees and expenses called also special lien choate lien : a lien that requires no further action to be made enforceable and th...
adequate protection
adequate protection : such action as is judicially determined to protect a secured creditor's interest in property that is part of a bankrupt estate NOTE: The U.S. Bankruptcy Code offers a list of examples of actions that are predetermined to provide adequate protection. When a court finds that a secured creditor is not adequately protected, the creditor may obtain relief from the automatic stay from creditors' collection attempts that is effected by the debtor's filing for bankruptcy. ...
Default
Default, omission of that which a man ought to do; neglect.When a defendant neglects to take certain steps in an action, which are required by the rules of Court, the Court may thereupon give judgment against him by default. The defendant allows judgment by default either intentionally or through mistake or neglect; intentionally, where he has no merits, or where he does so according to a previous agreement with the plaintiff; through mistake, when he delivers a pleading so defective that it is treated as a nullity; and through neglect, when perhaps he has no merits, but omits to appear, plead, etc., within the time limited by the rules of the Court for that purpose. This is an implied confession of the action. See the titles JUDGMENT, APPEARANCE, and PLEADING.It is defined as the non-performance of a duty, a failure to perform a legal duty or an omission to do something required, S. Sundaram Pillai v. V.R. Pattabiraman, (1985) 1 SCC 591: AIR 1985 SC 582: (1985) 2 SCR 643.It means non-...
Security agreement
Security agreement, means an agreement, instru-ment or any other document or arrangement under which security interest is created in favour of the secured creditor including the creation of mortgage by deposit of title deeds with the secured creditor. [Securitisation and Reconstruction of Financial Assets and Enforcements of Security Interest Act, 2002 (54 of 2002), s. 2(1) (zb)]...
secure
secure se·cured se·cur·ing 1 : to put beyond hazard of losing or not receiving [ the blessings of liberty "U.S. Constitution preamble"] 2 a : to protect or make certain (as by lien) [make a just and equitable partition and the parties' respective interests "Denton v. Lazenby, 879 P.2d 607 (1994)"] b : to give security for (as a loan) or otherwise assure the payment, performance, or execution of with security [the court imposed a lien on his property to the judgment] c : to give or pledge security to (as a creditor) ;broadly : to cause to have security or a security interest [a creditor secured by a lien on real property] ...
Hypothecation
Hypothecation [fr. hypotheca, Civ. Law, a pledge in which the pledges retained possession of the thing pledged, as distinguished from pignus, where the possession was transferred to the pledge. See Sand. Just; Sith's dict. of Antiq., tit. 'Pignus'], the act of pledging a thing as security for a debt or demand without parting with the possession. There are few cases, if any, in our law where an hypothecation in the strict sense of the Roman Law exists. The nearest approaches, perhaps, are the cases of holders of bottomry bonds, and of seamen to whom wages are due in the merchant service, who have a claim against the ship in rem. But these are rather cases of liens or privileges than strict hypo-thecations. There are also cases where mortgages of chattels are held valid, without any actual possession by the mortgage, but they stand upon very peculiar grounds, and may be deemed exceptions to the general rule.It means a charge in or upon any movable property, existing or future, created by...
lien creditor
lien creditor see creditor ...
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