general creditor Meaning in the Cambridge English Dictionary
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Meaning of “general creditor” in the English Dictionary

"general creditor" in Business English

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general creditornoun [C]

uk   us   (also unsecured creditor) US FINANCE
a ​person or ​organization that ​lendsmoney, but does not have an ​agreement that ​allows them to take ​property or ​assets of the borrower if the ​loan is not ​paid back: As a ​generalcreditor, you have to ​stand in ​line after ​creditors such as the Internal Revenue Service and the ​banks. Under the ​bid, unsecured ​creditors will receive 35% of the ​stock of the new ​corporation.
(Definition of general creditor from the Cambridge Business English Dictionary © Cambridge University Press)
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