What is a secured creditor?
A secured creditor is a creditor who claims the right to satisfy the debt, in whole or in part, through an interest in property owned by the debtor. Such an interest can arise by voluntary transfer (as in a mortgage in real estate or a security agreement in personal property), or involuntary transfer either by order of a court (a judgment lien) or by statute (as in a tax lien or mechanics lien). These interests in the debtors property can survive the bankruptcy, so these creditors are generally treated more favorably than unsecured creditors in Chapter 13.
These are people who are owed money by the company and who have taken security over the assets of the company in the way of a charge, whether a debenture (a fixed and floating charge) or either a fixed charge or separate floating charge. Frequently the most common person to have security over the assets would be the company’s bank.
