- preference
- A legal term used in bankruptcy to describe a transaction deemed to have occurred under circumstances favorable to the creditor that benefited from the transaction. This provision is intended to protect unsecured creditors. Under the U.S. Bankruptcy Code, the preference period for most creditors is 90 days prior the date of the debtor's petition filing. The exception is a one year preference period applicable to creditors deemed to be an " insider" with respect to the bankrupt debtor. Collateral interests obtained by a creditor during the preference period are undone by the bankruptcy.See insiders. American Banker Glossary————Refers to over-the-counter trading. Selection of a dealer to handle a trade despite the dealer's market not being the best available. Often the "preferenced dealer" will then move his market in line . Bloomberg Financial Dictionary————A system under which eligible goods imported into the EU from certain non-EU countries qualify for a reduced (often nil) rate of Customs Duty. These arrangements also cover EU goods exported to the non-EU country. HM Customs & Revenue Glossary
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preference pref‧e‧rence [ˈprefrəns] noun1. [countable, uncountable] the state of liking something more than something else, or something you like more than another thing:• People were twice as likely to change their brand preference if they liked an advertisement.
• a change in consumer preference from adjustable-rate to fixed-rate mortgages
liˈquidity ˌpreference [uncountable] ECONOMICSthe degree to which people and organizations like to hold their assets and investments in different forms, some of which can be bought and sold more easily than others. This influences the demand for money and a country's control of the amount of money in the economy:• The phenomenon of liquidity preference can find no place in a model that contains only one asset, cash.
2. [uncountable] COMMERCE when a country treats some countries more favourably than others in international trade, for example through lower import taxes:• Britain must take a strong line with its trading partners, but without damaging Community preference (= treating goods from the European Union more favourably than others. )
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Ⅰ.preference UK US /ˈprefərəns/ noun► [C or U] the fact of liking or wanting one thing more than another: preference for sth »These investors had a preference for securities rather than bank deposits.
»More flexibility will enable managers to redesign their floors quickly according to customer preferences.
»Buying a car is a matter of personal preference.
► [U] an advantage or better treatment that is given to a person or a group of people: give preference to sb/sth »This small-business program gives preference to minority- and women-owned companies.
→ See also COMMUNITY PREFERENCE(Cf. ↑Community preference), CONSUMER PREFERENCE(Cf. ↑consumer preference), LIQUIDITY PREFERENCE(Cf. ↑liquidity preference)Ⅱ.preference UK US /ˈprefərəns/ adjective► used to describe a company's shares that have the right to fixed dividends (= payments from profits) before the dividends on its ordinary shares are calculated and paid in a particular period, or in periods when dividends on these shares are not paid at all: »Nokia is to increase its capital with about $100 million of new preference stock.
Financial and business terms. 2012.
