Last Updated
:2025/11/23
preferred creditor
( plural )
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A creditor who will have, in the event of the debtor's bankruptcy, more right to collect than other creditors will.
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preferred creditor
The court ruled that the bank was a preferred creditor and should be paid before other lenders during the bankruptcy proceedings.
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The court ruled that the bank was a preferred creditor and should be paid before other lenders during the bankruptcy proceedings.
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