secured creditor
[sɪˈkjʊərd ˈkrɛdɪtər]
nounpl: secured creditors
credor garantido
1. A creditor who has a legal claim on specific assets of a debtor as collateral for a loan or debt
The bank acted as a secured creditor when it took a mortgage on the house as collateral for the loan.
O banco atuou como credor garantido quando tomou uma hipoteca sobre a casa como garantia do empréstimo.
2. A lender whose debt obligation is backed by tangible assets that can be seized if the debtor defaults
In the bankruptcy proceedings, the secured creditor had priority over unsecured creditors in recovering their funds.
Nos procedimentos de insolvência, o credor garantido tinha prioridade sobre os credores quirografários na recuperação de seus fundos.
3. A party holding a security interest in collateral pledged by a borrower
The secured creditor filed a lien against the equipment to protect their interests.
O credor garantido registrou uma penhora contra o equipamento para proteger seus interesses.
In both Brazilian and American legal systems, secured creditors occupy a privileged position in bankruptcy and debt recovery procedures. In Brazil, the concept is governed by the Brazilian Civil Code (Código Civil Brasileiro) and bankruptcy law (Lei de Falências), where secured creditors have priority claims. This distinction is fundamental to credit markets in both countries, affecting lending practices and interest rates.
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