preferred creditor
preferred creditor
Those creditors who, pursuant to Section 136 of the Bankruptcy and insolvency Act, rank ahead of ordinary unsecured creditors. Preferred creditors include employees for wages and landlords for rent (Ontario Bankruptcy Dictionary)

United Glossary of Bankruptcy Terms 2012.


Glossary of Bankruptcy.

Look at other dictionaries:

  • preferred creditor — n. A creditor who receives payment ahead of other creditors of the same debtor. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008 …   Law dictionary

  • Preferred Creditor — An individual or organization that has priority in being paid the money it is owed if the debtor declares bankruptcy. Because bankrupt entities do not have enough money to fulfill all of their financial obligations, some investors that are owed… …   Investment dictionary

  • preferred creditor — noun Etymology: preferred (I) : a creditor whose claim takes legal precedence over other claims …   Useful english dictionary

  • preferred creditor — noun A creditor who will have, in the event of the debtors bankruptcy, more right to collect than other creditors will …   Wiktionary

  • preferred creditor — See preference …   Ballentine's law dictionary

  • preferred — pre‧ferred [prɪˈfɜːd ǁ ɜːrd] adjective [only before a noun] FINANCE 1. used to talk about a company s most important investors. If the company is in financial difficulty, preferred investors may receive payment of dividends, debts etc even if… …   Financial and business terms

  • 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

  • creditor — A person to whom a debt is owing by another person who is the debtor. Rooney v. Inheritance Tax Commission of Kansas, 143 Kan. 143, 53 P.2d 500, 501. One who has a right to require the fulfillment of an obligation or contract. Murphy v. Jos.… …   Black's law dictionary

  • creditor — A person to whom a debt is owing by another person who is the debtor. Rooney v. Inheritance Tax Commission of Kansas, 143 Kan. 143, 53 P.2d 500, 501. One who has a right to require the fulfillment of an obligation or contract. Murphy v. Jos.… …   Black's 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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