Preferent Creditor definition

Preferent Creditor means a Creditor who would have a preferent Claim against the Company as envisaged in Insolvency Law;

Preferent Creditor means, as the context may require, a Commencement Date Creditor or a Post Commencement Claim, that would rank in whole or in part as a statutory preferent claim as defined in section 2 of the Insolvency Act;

Preferent Creditor means a creditor whose claim enjoys preference in terms of section 89 or a provision in terms of any other Act to pay a creditor who has no preference in respect of particular assets before concurrent creditors;

Examples of Preferent Creditor in a sentence

• The BRPs appointed Deloitte as an independent expert to: (i) calculate the potential liquidation dividend that would have been received by Creditors, in their specific classes, if the Company and some of the entities within the Group had been placed into liquidation as at the Commencement Date; and (ii) determine a fair and reasonable estimate of the return to each Secured Creditor, Preferent Creditor and Concurrent Creditor if the Company was liquidated.

• Article 21 Paragraph (1) Code No. 6 Of 1983 JO Code No. 9 Of 1994 JO Code No. 16 Of 2000 about KUP Weakness of State As Preferent Creditor Against Debt RepaymentAn important stage in the bankruptcy process is insolvency that the debtor is unable to pay, as it is at this stage that the bankrupt property is immediately executed and shared, otherwise peace between the bankrupt debtor and the creditors.

• Concurrent creditors are creditors who are satisfied with the payment of their receivables from the proceeds of the sale of bankrupt assets after being taken part by Separatist Creditor and Preferent Creditor.

• SARS ranks as a Concurrent Creditor under Business Rescue, whereas, under liquidation, SARS would rank as a Preferent Creditor.

• RESULTS AND DISCUSSIONState Position As Preferent Creditor on Tax DebtThe position of tax debt is a special privilege, so that the State is domiciled as a preferent creditor having privileges on the property of the Taxpayer shall be auctioned in public.9 Article 1134 Paragraph (2) of the Civil Code also provides for the privilege of having higher rank than other indebted persons due to the laws and regulations.

More Definitions of Preferent Creditor

Preferent Creditor means a Person who has a preferent Claim against the Company as envisaged in Insolvency Law and/or in terms of the Companies Act;

Preferent Creditor means a Creditor with a Preferent Claim;

Preferent Creditor means a creditor whose claim enjoys preference in terms of any provision of this Act or a or a similar preference in terms of any other Act;

Preferent Creditor means a Creditor having a preferent Claim against the Company as envisaged in terms of the Insolvency Act.

Preferent Creditor means a creditor whose claim enjoys preference in terms of section

Preferent Creditor means a creditor whose claim enjoys preference in terms of section 80(2) or

Preferent Creditor means a creditor whose claim enjoys preference which entitles the creditor to be paid from proceeds of incumbent assets before concurrent creditors;