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Today's Terms
Secured creditors
Definition:
One of two general types of creditors of a company. Secured creditors have a lien on property of the company.
Chapter Twenty Two
Definition:
An unofficial term describing a company that has filed for Chapter 11 twice.
Post-petition
Definition:
Occurring after the filing of a petition. Preference - a payment by a debtor made during a specified period (90 days or one year) prior to the filing that favors one creditor over others.
More Bankruptcy Terms >
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