Glossary of Bankruptcy

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 Terms2012.

• PREFERENTIAL LIEN
• PREFERENCE