preferential payment
1preferential payment — A payment made to a preferential creditor …
2preferential 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… …
3preferential debt payment — A debt payment made to a creditor in the 90 day period before a debtor files bankruptcy (or within one year if the creditor was an insider) that gives the creditor more than the creditor would receive in the debtor s chapter 7 case.… …
4preferential 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 …
5preferential 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,… …
6preferential 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… …
7preferential dividend — A dividend which the shareholder is entitled to receive ahead of the payment of dividends on other classes of shares (usually the ordinary shares). The dividend is usually a fixed percentage of the nominal value (and any premium) paid up on the… …
8Preferential 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… …
9facilitating payment — A minor payment made to an individual or organization in order to encourage the correct and timely performance of duties. The term facilitating payment (or expediting payment) is associated with the *Foreign Corrupt Practices Act, which… …
10Unfair preference — In many legal systems, where a person or company transfers assets or pays a debt to a creditor shortly before going into bankruptcy, that payment or transfer can be set aside on the application of the liquidator or trustee in bankruptcy as an… …
