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Glossary

A B C D E H I L M O P R S U W

Secured Creditors

A creditor who holds title to an asset of his debtor, which can be held as security for a debt and sold if necessary to recover the debt (e.g. a company taking out a mortgage with a bank to create overdraft facilities, will put up its property as security for the bank to cover the eventuality of being unable to pay back any money borrowed.)