MLchartDataset catalogue

Preference (bankruptcy)

Term · Law · MLC-T-LAW-000175

A debt payment made to a creditor in the 90-day period before a debtor files bankruptcy (or within one year if the creditor was an insider) that gives the creditor more than the creditor would receive in a Chapter 7 liquidation and may be avoided and recovered by the debtor or trustee, subject to court approval.

Table 1. Record
IdentifierMLC-T-LAW-000175
FieldLaw
ReferencesU.S. Courts Glossary of Legal Terms
Record as JSON 
{
  "id": "MLC-T-LAW-000175",
  "term": "Preference (bankruptcy)",
  "field": "Law",
  "definition": "A debt payment made to a creditor in the 90-day period before a debtor files bankruptcy (or within one year if the creditor was an insider) that gives the creditor more than the creditor would receive in a Chapter 7 liquidation and may be avoided and recovered by the debtor or trustee, subject to court approval.",
  "references": [
    "U.S. Courts Glossary of Legal Terms"
  ],
  "url": "https://mlchart.com/terminology/law/preference-bankruptcy/"
}

Record 3,872 of 5,445 in Law terminology (MLC-0107). Request the full dataset.