insider preference

Definition of "insider preference"
  1. The act of a debtor undergoing a bankruptcy proceeding favoring an insider by transferring their property to them, which occurs more than ninety days but less than a year before filing for bankruptcy
How to use "insider preference" in a sentence
  1. The court had to scrutinize the situation due to a potential insider preference scenario.
  2. The claimant raised concerns about insider preference following the property transfer just a few months before the bankruptcy filing.
  3. Legal counsel advised vigilance to prevent any semblance of insider preference in the case.

Provide Feedback
Browse Our Legal Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z