A creditor secured by a secured charge or floating charge is known as a/an:
A)secured creditor
B)fixed creditor
C)charged creditor
D)none of the above

Question

Quizplus · Accepted Answer

A creditor who holds a secured charge or floating charge on the assets of a debtor is known as a secured creditor. This means that they have a priority claim on the assets over unsecured creditors in the event of default or insolvency. Therefore, option A is the correct answer. Option B and C are not commonly used terms in this context. Option D is incorrect as there is a term used for such creditors.

A Creditor Secured by a Secured Charge or Floating Charge