Business, Legal & Accounting Glossary
A loan stock or debenture in which no specific assets have been set aside as a fund out of which the holders could be paid in priority to other creditors in the event of non-payment.
A Unsecured Loan Stock (ULS) (also known as a Unsecured Debenture) is a loan stock or debenture in which no specific assets have been set aside as a fund out of which the holders could be paid in priority to other creditors in the event of non-payment.
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This glossary post was last updated: 10th August, 2019 | 0 Views.