1492 terms

Glossary

Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.

Showing 2 terms

Secured creditor

Regulation & tax

A lender holding a charge over an identified asset, with a claim on that asset ahead of unsecured creditors.

In plain terms

Whether your lender is one decides how a default unfolds. A home loan lender has a statutory route to the flat; an app that lent you ₹40,000 has a slow civil one to nothing in particular.

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Waterfall

Regulation & tax

The statutory order in which claims are paid in an insolvency.

In plain terms

Costs, secured creditors, workers, unsecured creditors, government, then equity. Equity usually gets nothing.

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