creditor

creditor. 1. One to whom a debt is owed; one who gives credit for money or goods. — Also termed debtee. 2. A person or entity with a definite claim against another, esp. a claim that is capable of adjustment and liquidation. 3.Bankruptcy. A person or entity having a claim against the debtor predating the order for relief concerning the debtor. [Cases: Bankruptcy 2822.C.J.S. Bankruptcy §§ 239, 241.] 4.Roman law. One to whom any obligation is owed, whether contractual or otherwise. Cf. DEBTOR.

attaching creditor.A creditor who has caused an attachment to be issued and levied on the debtor’s property. [Cases: Attachment 16. C.J.S. Attachment § 9.]

bond creditor.A creditor whose debt is secured by a bond.

catholic creditor.Scots law. A person who has a security interest in more than one piece of the debtor’s property.

certificate creditor.A creditor of a municipal corporation who receives a certificate of indebtedness rather than payment because the municipality cannot pay the debt. Cf. warrant creditor.

conditional creditor.Civil law. A creditor who has either a future right of action or a right of action in expectancy.

creditor at large.A creditor who has not established the debt by reducing it to judgment, or who has not otherwise secured a lien on any of the debtor’s property.

domestic creditor.A creditor who resides in the same state or country as the debtor or the debtor’s property.

double creditor.A creditor who has a lien on two funds. Cf. single creditor.

execution creditor.A judgment creditor who has caused an execution to issue on the judgment. [Cases: Execution 17. C.J.S. Executions § 20.]

foreign creditor.A creditor who resides in a different state or country from that of the debtor or the debtor’s property.

gap creditor.Bankruptcy. A creditor who extends credit to, lends money to, or has a claim arise against the debtor in the period between the filing of an involuntary bankruptcy petition and the entry of the order for relief. • Under the Bankruptcy Code, a gap creditor’s claim receives second priority, immediately below administrative claims. 11 USCA §§ 502(f), 507(a)(2). [Cases: Bankruptcy 2833. C.J.S. Bankruptcy § 240.]

general creditor.See unsecured creditor.

hypothetical creditor.Bankruptcy. An actual or code-created judicial-lien creditor or bona fide purchaser who establishes a bankruptcy trustee’s status under the Bankruptcy Code’s priority scheme, claiming property through the debtor at the time of the bankruptcy filing. 11 USCA § 544. — Also termed hypothetical lien creditor. [Cases: Bankruptcy 2704, 2705. C.J.S. Bankruptcy §§ 123, 134, 158.]

joint creditor.A creditor who is entitled, along with another creditor, to demand payment from a debtor.

judgment creditor.See JUDGMENT CREDITOR.

junior creditor.A creditor whose claim accrued after that of another creditor; a creditor who holds a debt that is subordinate to another’s.

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