Glossary

List of glossary items

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  • Undervalued transaction

    A transaction where less than market price has been paid for an asset in consideration of a transfer in ownership of the asset. A trustee has the ability to recover the asset or difference in purchase price paid if certain criteria set out in the Bankruptcy Act 1966 are satisfied.

  • Undischarged bankrupt

    A person who is bankrupt. (That is, someone who became bankrupt and whose bankruptcy has not yet ended.) Bankrupts have various obligations and various restrictions upon their conduct.

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    Discharged bankrupt

  • Unsecured creditor

    A creditor whose debt does not have security attached to it.

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    Secured creditor

  • Unsecured debt

    A loan that is not tied to any asset e.g. credit cards.

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    Secured debt
Displaying 1 - 4 of 4.