An unfair preference (or "voidable preference") is a legal term arising in bankruptcy law where a person or company transfers assets or pays a debt to a creditor shortly before going into bankruptcy, that payment or transfer can be set aside on the application of the liquidator or trustee in bankruptcy as an unfair preference or simply a preference.[1]
^See for example, section 239 of the Insolvency Act 1986 of the United Kingdom, which uses the term 'Preference' rather than 'Unfair Preference'; section 565 of the Corporations Act 2001 of Australia[1]; and Sec. 547 of the U.S. Bankruptcy Code.
An unfairpreference (or "voidable preference") is a legal term arising in bankruptcy law where a person or company transfers assets or pays a debt to...
conservatorship before granting one, giving potential conservatees in California preference in selecting a conservator, and making it easier to end probate conservatorships...
considered a preference since it would not constitute unfairness. It is the decision to give a preference, rather than the giving of the preference pursuant...
2004) defines pari passu as "proportionally; at an equal pace; without preference". In inheritance, a pari passu (per capita) distribution can be distinguished...
insolvency law decision relating to unfairpreferences and the proceeds of any claims by a liquidator for unfairpreferences, and in particular determining...
categories of insolvent transactions: unfairpreferences, and uncommercial transactions. A transaction is an unfairpreference if the company and the creditor...
entered into may be voidable as a transaction at an undervalue or an unfairpreference. The main purpose of a liquidation where the company is insolvent...
the trustee in bankruptcy are to: Review the file for any fraudulent preferences or reviewable transactions Chair meetings of creditors Sell any non-exempt...
Parliament expected that companies and creditors would use administration in preference to administrative receivership. Crucially, however, Parliament had conceded...
cas de surendettement): Certain acts of the debtor that impart an unfairpreference to another creditor, such as the securing of a previously unsecured...
liquidator can apply for transactions at an undervalue to be cancelled, or unfairpreferences to some creditors be revoked. Directors can be sued for breach of...
payments as unfairpreference payments under s588FA of the Act. Metal Manufacturers sought to 'set off' its liability to repay the unfairpreferences, because...
civil action or even an offence to continue to pay some creditors in preference to other creditors once a state of insolvency is reached. Debt restructurings...
bankruptcy, may file suit against third parties that have benefited from unfairpreferences or fraudulent transfers by the debtor prior to a seizure of assets...
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