Preferential Claim definition

Preferential Claim means a claim falling within the types of debt listed in Schedule 8 (Preferential Debts) of the Regulations;
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Preferential Claim means a claim of a type prescribed by the Rules as a preferential claim;
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Preferential Claim means a claim which is a preferential debt in accordance with section 107 except for the payment of the fees and expenses properly incurred by the liquidator or administrator in carrying out the functions and duties of the liquidator or administrator;
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Examples of Preferential Claim in a sentence

  • In April 2022, the Plan Administrator filed a Complaint against MHI (the "Complaint") alleging certain preferential transfers of assets, which were valued by the Plan Administrator at $250,000, relating to payments on a $600,000 loan made to MHI by the Company prior to the filing of the OGGUSA Debtors Chapter 11 proceeding (the "Preferential Claim").

  • Operating Assets3.5 Description3.6 Sales Proceeds3.7 Estate Contribution3.8 Preferential Claim of the Netherlands Tax and Customs Administration3.9 Stocks / Work in Hand3.10 Sales Proceeds3.11 Estate Contribution3.12 Intellectual Property Rights3.13 Participating InterestsPlease refer to the previous reports.

  • In July 2023, MHI entered into a Settlement and Release Agreement with the Plan Administrator pursuant to which it agreed to reduce its Bankruptcy Court approved unsecured general claim to $15.5 million, or by 50%, in consideration for the settlement of the Preferential Claim and a general release of MHI and the Company.

  • The CVA shall not affect the rights of any Employee, either in respect of any Employee Preferential Claim or any other Liability owed to the Employee in their capacity as an Employee.

  • Received (Date Stamp)Reserved for Office Use:Claim admitted for voting purposes: Signed: Date: / / Claim rejected for voting purposes:Signed:Date: / / Claim rejected for payment:Signed:Date: / / Claim admitted for payment: Preferential Claim for: Ordinary Claim for: Deferred claim for: $ $ $ Signed LiquidatorDated: Note: If the decision to admit or reject a claim is amended, regulation 8 of the Companies Act 1993 Liquidation Regulations 1994 requires that it be recorded in writing.

  • The Company has and continues to vigorously deny that any of the Preferential Claim exists in that such claims were waived and released in connection with the Company's settlement agreement and stipulations for its support of and voting for the Plan.

  • Operating Assets3.5 Description3.6 Sales Proceeds3.7 Estate Contribution3.8 Preferential Claim of the Netherlands Tax and Customs Administration3.9 Stocks / Work in Hand3.10 Sales Proceeds3.11 Estate Contribution3.12 Intellectual Property RightsPlease refer to the preceding reports.

  • The Company intends that each Operational Debt, insofar as its Operational Debt has not been discharged outside the Scheme, each Preferential Creditor, insofar as its Preferential Claim has not been discharged outside the Scheme, and the Secured Creditor, insofar as its Secured Claim has not been discharged outside the Scheme, will be paid either by the Company with cash flows received from its operating activities in cash in full outside of the Scheme.

  • For those reasons, I hold that the learned Judge of the Commercial High Court in SC Appeal No. 208/2016 has erred in coming to the conclusion that the compensation payable under TEWA, cannot be treated as a Preferential Claim specified in item 2(g) in the Ninth schedule to the Companies Act No. 07 of 2007.

  • The objective of the Company is to identify measure, monitor, manage and mitigate operational risk so as to strike a balance between avoiding direct or indirect financial losses that may occur as a result of procedural, human or systemic errors, or due to external events, which may jeopardize the reputation of the entity.


More Definitions of Preferential Claim

Preferential Claim means a claim referred to in Part 3 of Schedule 8 (except clause 15 of that Schedule);
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Preferential Claim means a claim by a Bank for sums advanced to a Borrower to which Section 386 and Schedule 6 of the Insolvency Act 1986 (or any analogous provision in any other applicable jurisdiction) applies;
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Preferential Claim means a claim in respect of a preferential debt;
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Preferential Claim means a claim of a type prescribed by the Rules as a preferential claim; “preferential creditor” means a creditor having a preferential claim;
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Preferential Claim means a claim which is a preferential debt in accordance with the Fourth Schedule except for the payment of the fees and expenses properly incurred by the liquidator in carrying out his functions and duties;
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Related to Preferential Claim

  • Secured Claim means a Claim: (a) secured by a valid, perfected, and enforceable Lien on collateral to the extent of the value of such collateral, as determined in accordance with section 506(a) of the Bankruptcy Code or (b) subject to a valid right of setoff pursuant to section 553 of the Bankruptcy Code.

  • Rejection Damages Claim means any Claim on account of the rejection of an Executory Contract or Unexpired Lease pursuant to section 365 of the Bankruptcy Code or the repudiation of such contract.

  • IPR Claim means any claim of infringement or alleged infringement (including the defence of such infringement or alleged infringement) of any IPR, used to provide the Services or as otherwise provided and/or licensed by the Supplier (or to which the Supplier has provided access) to the Authority in the fulfilment of its obligations under this Framework Agreement;

  • Environmental Claim means any investigation, notice, notice of violation, claim, action, suit, proceeding, demand, abatement order or other order or directive (conditional or otherwise), by any Governmental Authority or any other Person, arising (i) pursuant to or in connection with any actual or alleged violation of any Environmental Law; (ii) in connection with any Hazardous Material or any actual or alleged Hazardous Materials Activity; or (iii) in connection with any actual or alleged damage, injury, threat or harm to health, safety, natural resources or the environment.

  • Disallowed costs means those charges determined to be unallowable, in accordance with the applicable Federal statutes, regulations, or the terms and conditions of the Federal award. (2 CFR 200.31 and 45 CFR 75.2)