P

(A) A payment that is made by a debtor to a creditor during a period just prior to filing for bankruptcy. It is called a preference because the debtor has decided which of his creditors should receive the balance of his or her assets at the unfair expense of others who will be left with nothing to collect. Usually this period of preference deals with disposition of money or … [Read more...] about PREFERENCE

A term used in English law to designate a new issue of shares of stock in a company, which, to facilitate the disposal of them, are accorded a' priority or preference over the original shares. Such shares entitle their holders to a preferential dividend, so that a holder of them is entitled to have the whole of his dividend (or so much thereof as represents the extent to which … [Read more...] about PREFERENCE SHARES

Showing favoritism or a preference for over others. … [Read more...] about PREFERENTIAL

An assignment of property for the benefit of creditors, made by an Insolvent debtor, in which it is directed that a preference (right to be paid first in full) shall be given to a creditor or creditors therein named. … [Read more...] about PREFERENTIAL ASSIGNMENT

The transfer of an asset by an insolvent debtor to a desired party to the exclusion and detriment of other creditors. … [Read more...] about PREFERENTIAL TRANSFER