Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
preferential creditor — Preferential creditors have prior rights, under the Insolvency Act 1986 to payment from the assets available for creditors in the event of an insolvency (e.g. the Inland Revenue, VAT or employees wages). They rank after fixed charges but before… … Law dictionary
preferential creditor — ➔ creditor * * * preferential creditor UK US noun [C] FINANCE, LAW ► one of the people, businesses, etc. to which a bankrupt company owes money that must be paid back before others: »Barclays Bank and the preferential creditors will be repaid in… … Financial and business terms
Preferential creditor — A preferential creditor (in some jurisdictions called a preferred creditor) is a creditor who receives a preferential right to payment upon the debtor s bankruptcy under applicable insolvency laws.In most legal systems, some creditors are given… … Wikipedia
preferential creditor — A creditor whose debt will be met in preference to those of other creditors and who thus has the best chance of being paid in full on the bankruptcy of an individual or the winding up of a company. Preferential creditors, who are usually paid in… … Accounting dictionary
preferential creditor — A creditor whose debt will be met in preference to those of other creditors and who thus has the best chance of being paid in full on the bankruptcy of an individual or the winding up of a company. Preferential creditors, who are usually paid in… … Big dictionary of business and management
preferential transfer — Certain transfers or payments made to creditors within 90 days before the bankruptcy is filed may be reversed and recovered by the bankruptcy court. Where the creditor is an insider (relative, shareholder, etc.) the 90 days is extended to one… … Glossary of Bankruptcy
preferential transfer — USA preference, Also known as a preferential transfer. A transfer made by an insolvent debtor to a creditor in payment of a preexisting debt within 90 days before the date when the bankruptcy petition is filed (or if the creditor is an insider,… … Law dictionary
preferential — pref·e·ren·tial /ˌpre fə ren chəl/ adj 1: of or constituting a preference a preferential transfer 2: giving preference to union members esp. in hiring a preferential shop 3: showing preference these creditors may obtain preferential … Law dictionary
preferential debts — categories of debts listed in the Insolvency Act 1986 and having priority to any claims to principal or interest under a debenture. Collins dictionary of law. W. J. Stewart. 2001. preferential debts … Law dictionary
preferential — ► ADJECTIVE 1) of or involving preference or partiality. 2) (of a creditor) having a claim for repayment which will be met before those of other creditors. DERIVATIVES preferentially adverb … English terms dictionary
