Secured Claim

Resource type: Glossary Item

Status: Maintained

Jurisdiction: USA

A claim (www.practicallaw.com/4-382-3333) held by a creditor who has a perfected lien (www.practicallaw.com/7-382-3685) or a right of set-off (www.practicallaw.com/6-382-3817) against the debtor's property. A claim is secured to the extent of the creditor's interest in the debtor's property or to the extent of the amount subject to set-off. In a bankruptcy case, secured claims are satisfied before any other claims out of the proceeds of the collateral (www.practicallaw.com/3-382-3343) which secure them.

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Resource ID: 2-382-3800
Products: PLC US Corporate & Securities, PLC US Finance, PLC US Glossary, PLC US Law Department
This resource is maintained, meaning that we monitor developments on a regular basis and update it as soon as possible.

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Checklist

Diagram: Order of Distribution in Bankruptcy Diagram: Order of Distribution in Bankruptcy (http://uslf.practicallaw.com/topic6-383-6688)

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