a payment by a debtor made during a specified period (90 days or one year) prior to the filing that favors one creditor over others. Preference payments can usually be recovered and returned to the debtor's estate (Glossary of Common Bankruptcy Terms)A voidable transfer of an asset (including money) to a creditor made prior (90 days or one year, depending) to the petition date such that the creditor receiving the asset receives more than it otherwise would if the transfer had not been made and the case were one under chapter 7 (SA-Bankruptcy.com)A transfer to a creditor in payment of an existing debt made within certain time periods before the commencement of the case. Preferences may be recovered by the trustee for the benefit of all creditors of the estate. (Bankruptcy in Brief)
United Glossary of Bankruptcy Terms 2012.
Glossary of Bankruptcy.