Preferential Creditors definition

Preferential Creditors means, as to U.K. Borrower, holders of "preferential debts" as interpreted in Section 386 of the Insolvency Act 1986 of England and Wales and listed in Schedule 6 of that Act.

Preferential Creditors means those creditors of the Company holding Preferential Claims;

Preferential Creditors means creditors whose debts would be treated as having a preferential ranking in terms of Section 386 of and Schedule 6 to the Insolvency Act 1986 (or any subsequent legislation amending the categories of preferential debts in an insolvency) if, on the date of computation, preferential ranking had crystallised.

Examples of Preferential Creditors in a sentence

• For the purposes of the application by the Deed Administrator of the Property of the Deed Company coming under their control under this Deed, any Preferential Creditors will be entitled to a priority at least equal to what they would have been entitled if the property were applied in accordance with Section 227 (Preferential Debts) of the Regulations.

• Unsecured Creditors rank behind both Secured and Preferential Creditors.

• The quantum of claims received from the Preferential Creditors; and3.

• You undertake that, in addition to any requirements set out or referred to in this Agreement, you shall:10.1. ensure that details of your Preferential Creditors are delivered to us within 30 days of the end of each month (or, following a Termination Event, at such frequency and at such times as we may specify); 10.2. keep your Inventory and Plant and Machinery in a good state of repair and condition at Eligible Premises.

• Methods of Valuation of Shares - Net Assets Method - Yield Method - Fair Value Method.UNIT - II Liquidation of companiesOrder of Payments - Preferential Creditors - Liquidator’s Remuneration - Liquidator’s Final Statement of Account - Statement of Affairs and Deficiency Account.UNIT - III Bank and Insurance Company accountsNPA - Interest on Doubtful Debts - Rebate on Bills Discounted - Preparation of Bank Profit & Loss Account and Balance Sheet.

More Definitions of Preferential Creditors

Preferential Creditors as to UK Guarantors, holders of “preferential debts” as interpreted in Section 386 of the Insolvency Xxx 0000 of England and Wales and listed in Schedule 6 of that Act.

Preferential Creditors means CVA Creditors who hold Claims which are preferential within the meaning of section 386 of the Insolvency Act.

Preferential Creditors means any sums which may become due to any person which, in the reasonable opinion of FGI, may be entitled to receive payment out of floating charge realisations in priority to FGI;

Preferential Creditors means the creditors of the Company as at Completion whose

Preferential Creditors means, as to a UK Borrower, (a) holders of "preferential debts" as such term is defined in Schedule 6 to the Insolvency Act of 1986 and/or (b) any supplier to such UK Borrower instituting proceedings to repossess any goods of such UK Borrower.

Preferential Creditors means those creditors of ASUSA with Preferential Liabilities.

Preferential Creditors means SFHG Creditors who hold SFHG Claims which are preferential within the meaning of section 386 of the Insolvency Act.