preference or preferred creditors

preference or preferred creditors
Those creditors, in the Bankruptcy and insolvency Act specified in Section 136, that rank ahead of ordinary or unsecured creditors. Some preferred creditors are employees for wages, and a landlord for some specified rental arrears. (Dictionary of Canadian Bankruptcy Terms)

United Glossary of Bankruptcy Terms 2012.


Glossary of Bankruptcy.

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  • preference — pref·er·ence / pre frəns, fə rəns/ n 1: the right to prior payment of a debt with preference over the creditors of the heirs or legatees Louisiana Civil Code 2: the transfer of an insolvent debtor s interest in property to a creditor for an… …   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

  • preferred shares — give investors a fixed dividend from the company s earnings and entitle them to be paid before common shareholders. Bloomberg Financial Dictionary See: preferred stock. Bloomberg Financial Dictionary Payment of dividends to holders normally takes …   Financial and business terms

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  • 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

  • preferred shares — Payment of dividends to holders normally takes preference over the payment of dividends to other classes of shares. In the event of liquidation, preferred shares normally rank above ordinary shares but behind creditors of the company …   Euroclear glossary

  • Bankruptcy in Canada — The procedures and legal consequences of consumer bankruptcy in Canada are governed by Canadian federal legislation.OverviewConsumer bankruptcy is a legislative procedure under Bankruptcy and Insolvency Act ( the BIA ) *(1) complemented by… …   Wikipedia

  • stock — The goods and wares of a merchant or tradesman, kept for sale and traffic. In a larger sense, the capital of a merchant or other person, including his merchandise, money, and credits, or, in other words, the entire property employed in business.… …   Black's law dictionary

  • Stock — For capital stock in the sense of the fixed input of a production function, see Physical capital. For other uses, see Stock (disambiguation). Financial markets Public market Exchange Securities …   Wikipedia

  • United States — a republic in the N Western Hemisphere comprising 48 conterminous states, the District of Columbia, and Alaska in North America, and Hawaii in the N Pacific. 267,954,767; conterminous United States, 3,022,387 sq. mi. (7,827,982 sq. km); with… …   Universalium

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