preference or preferred creditors
- preference or preferred creditors
- preference or preferred creditors
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Those creditors, in the Bankruptcy and insolvency Act specified in Section 136, that rank ahead of ordinary or unsecured creditors. Some preferred creditors are employees for wages, and a landlord for some specified rental arrears. (Dictionary of Canadian Bankruptcy Terms)
United Glossary of Bankruptcy Terms
2012.
Glossary of Bankruptcy.
Look at other dictionaries:
preference — pref·er·ence / pre frəns, fə rəns/ n 1: the right to prior payment of a debt with preference over the creditors of the heirs or legatees Louisiana Civil Code 2: the transfer of an insolvent debtor s interest in property to a creditor for an… … Law dictionary
preferred — I (favored) adjective adopted, approved, choice, chosen, decided upon, elected, endorsed, especially liked, fancied, favorite, handpicked, liked, picked out, preferable, preferential, selected, set apart, settled upon, singled out, special, taken … Law dictionary
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preferred — Possessing or accorded a priority, advantage, or privilege. Generally denoting a prior or superior claim or right of payment as against another thing of the same kind or class; e.g. creditor with perfected security interest @ preferred creditor… … Black's law dictionary
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United States — a republic in the N Western Hemisphere comprising 48 conterminous states, the District of Columbia, and Alaska in North America, and Hawaii in the N Pacific. 267,954,767; conterminous United States, 3,022,387 sq. mi. (7,827,982 sq. km); with… … Universalium