This plan must be approved by a majority of the unsecured creditors and by each secured creditor.
Charles A. D'Ambrosio & Stewart D. Hodges & Richard Brealey & Stewart Myers Principles of Corporate Finance (1991)
This made it the biggest secured creditor, meaning it will get preference over other suppliers.
Times, Sunday Times (2012)
The club is available for a nominal fee but any new owner must find 30m to pay off secured creditors.
The Sun (2010)
It singled out insolvencies in which secured creditors, particularly banks, are not involved.
Times, Sunday Times (2010)
An administrator that allowed a large secured creditor to influence the administration process unduly would risk being in breach of insolvency regulations, one industry expert said.
Times, Sunday Times (2015)
He added that it was'not atypical for a large secured creditor to work alongside an administrator to recover their loan '.