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 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.

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.

• Preferential Creditors consist of amounts due to employees or deducted from employee remuneration as per Section 2 of the Schedule GIR14.

• Should any security granted by Willow Ireland to Noteholders be regarded by the Irish courts as a floating charge, this may lead to Noteholders ranking subordinate to other creditors of Willow Ireland on the enforcement of such security and therefore receiving less proceeds from the realisation of the secured assets.For further information, see the section of this Base Prospectus titled “Description of Willow Ireland – Preferential Creditors under Irish Law”.

• Preferential Creditors As a result of the Liquidators’ prior appointment, the Liquidators will deal with any preferential claims through the liquidation.

• Order of Payment; Preferential Creditors; Contributories; Liquidator’s Final Statement of Account.

More Definitions of Preferential Creditors

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.

Preferential Creditors means Creditors whose claims against the Company at the Relevant Date would have been preferential pursuant to Section 386 of and Schedule 6 to the Act if the Company was being wound up within the meaning of Section 247(2) of the 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 CVA Creditors who hold Claims which are preferential within the meaning of section 386 of the Insolvency Act.

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

Preferential Creditors means any creditors of the Customer entitled to payment in priority to other creditors on a winding up or bankruptcy of the Customer pursuant to the terms of the Insolvency Xxx 0000 and regulations made thereunder;