unfair preference


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unfair preference

a payment or transaction designed to favour one creditor over others in the event of a forthcoming INSOLVENCY, so an ordinary payment of an ordinary legitimate debt is not unfair, but the granting of a security allowing it to be repaid in full in the event of insolvency is unfair to the general body of creditors. The trustee of the insolvent estate is allowed to unravel such transactions subject to detailed rules and time limits.
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Legislation prevents government providing local businesses with an unfair preference but rather, the Buy Local Plan will ensure contracts are awarded to businesses which can demonstrate they will bring benefits to the local economy by for example; employing local workers or sourcing supplies locally.
These are that it gives unfair preference in search results to its own services, copies content without permission, ties up publishers with exclusivity deals, and discourages clients from using other advertising platforms.
The club's efforts to emerge from administration were in danger of being thwarted by Her Majesty's Revenue and Customs, who had alleged that the CVA gave unfair preference to football creditors.
When college officials admit students based on a set of criteria, and one of those is ethnicity, they are automatically criticized for unfair preference.
To activists who seek to break the family's legal monopoly, the challenge is less to redefine family than to end the law's unfair preference toward families by extending legal privileges formerly reserved for families to individuals and to frankly nonfamilial social structures.
The US move was in retaliation for the EU giving unfair preference to Caribbean bananas.
there is a danger of unfair preference when the state company competes for a contract with private companies.
They claim that the new taxis cut queues and overtake them to pick up customers and are given unfair preference by shopping centres.
College admissions are laden with unfair preferences for the children of alumni, for athletes in a variety of sports, and for black and Latino students, most of whom also come from middle- or upper-class backgrounds.
For example, regarding the Center for Equal Opportunity's report that unfair preferences were given to blacks, Wise states that their argument is "demonstrably absurd and the height of statistical illiteracy" (p.
The initiative was designed to appeal to white voters who believe that any racial counting leads to unfair preferences, and mixed race voters who are frustrated with having to check a racial identity box.