fraudulent preference

fraudulent preference

a term formerly used in Scots insolvency law to describe a payment by a debtor to a favoured creditor, now replaced by the concept of UNFAIR PREFERENCE.
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The lawsuit claims the accused engaged in fraudulent trading, breach of trust, fraudulent preference [in CY's favour] and illegal intervention in the business affairs of Eurocypria.
These directions can be for the method of disposing of certain assets or for the raking of proceedings to attack fraudulent preferences, reviewable transactions and settlements.