Liquidation In Bittern. What is a Preference Payment. A preference payment (or preferential payment) is a payment or asset transfer that can give a creditor an ‘advantage’ over other creditors. Typically, preferences are payments of money and any payment made to a creditor before a liquidation may be eligible for recovery by a liquidator. If your Company is Insolvent and not able to pay…
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Liquidation In Blackett. What is a Preference Payment. A preference payment (or preferential payment) is a payment or asset transfer that can give a creditor an ‘advantage’ over other creditors. Typically, preferences are payments of money and any payment made to a creditor before a liquidation may be eligible for recovery by a liquidator. If your Company is Insolvent and not able to pay…