Brendan Burgess
Founder
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Does a judgement mortgage count as a secured or an unsecured creditor?
Say a borrower has a house worth €100k and a mortgage of €300k with a judgement mortgage of €50k.
And let's say that they have €40k of unsecured creditors.
Can the person with the judgement mortgage opt to be an unsecured creditor and veto the proposal as they have more than 35% of the unsecured creditors?
Say a borrower has a house worth €100k and a mortgage of €300k with a judgement mortgage of €50k.
And let's say that they have €40k of unsecured creditors.
Can the person with the judgement mortgage opt to be an unsecured creditor and veto the proposal as they have more than 35% of the unsecured creditors?