preferential debt payment
- preferential 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. (BankruptcyAction.com)
United Glossary of Bankruptcy Terms 2012.
Glossary of Bankruptcy.
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