preferential creditor

preferential creditor
preferential creditor preferential creditor creditor

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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 full, while unsecured creditors will receive 'substantial' payments.

See also CREDITOR(Cf. ↑creditor)
Compare ORDINARY CREDITOR(Cf. ↑ordinary creditor)

Financial and business terms. 2012.

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Look at other dictionaries:

  • 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 — 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 creditor — /ˌprefəˌrenʃ(ə)l kredɪtə/, preferred creditor /prɪˌfɜ:d kredɪtə/ noun a creditor who must be paid first if a company is in liquidation …   Dictionary of banking and finance

  • creditor — a person or business to whom money is owed. Glossary of Business Terms A party who is owed money by another party. American Banker Glossary lender of money. Bloomberg Financial Dictionary The party that receives assets from the debtor/originating …   Financial and business terms

  • Creditor — Lender of money. The New York Times Financial Glossary * * * creditor cred‧i‧tor [ˈkredtə ǁ ər] noun 1. [countable] ACCOUNTING COMMERCE a person or business to whom another person or business owes money: • The company said its largest creditor… …   Financial and business terms

  • preferential debt — A debt that will be repaid in preference to other debts. See: preferential creditor …   Accounting dictionary

  • preferential debt — A debt that will be repaid in preference to other debts. See preferential creditor …   Big dictionary of business and management

  • preferential payment — A payment made to a preferential creditor …   Big dictionary of business and management

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