Quoted: A list of 30 creditors that NewPage owes the most money in unsecured debt includes four Wisconsin companies. Unsecured debt simply means there isn?t collateral, said Jonathan Lipson, a University of Wisconsin Law School professor and expert on corporate bankruptcy. An example of secured debt would be a car loan that would allow the company to take the car if the loan is not repaid. An example of unsecured debt would be a student loan, where there is nothing to take back.
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