释义 |
preferential debts The debts of a company on winding-up or of an individual on bankruptcy that have priority over unsecured debts and those secured only by floating charge. They are defined in the Insolvency Act 1986 and include debts to the trustees of occupational pension schemes and to employees in respect of outstanding remuneration. Debts owed to the Crown (i.e. to HM Revenue and Customs) ceased to be preferential debts in 2003, but HMRC became a preferential creditor once more from 1 December 2020. |