Preference Action definition

Preference Action means any and all claims or defenses of the Debtors or Reorganized Debtors arising under section 547 of the Bankruptcy Code (but excluding claims or defenses arising under section 547 of the Bankruptcy Code brought as counterclaims or defenses to Claims asserted against the Debtors).
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Preference Action means a Right of Action pertaining to Bankruptcy Code section 547 for recovery of prepetition payments made by the Debtor (but expressly excluding security interests, liens and similar interests).
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Preference Action means a Cause of Action pertaining to section 547 of the Bankruptcy Code for recovery of prepetition payments made by the Debtor.
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Examples of Preference Action in a sentence

  • With respect to waivers of general unsecured claims, the amount of such credit will be calculated based on the estimated amount of the anticipated distribution on the claim being waived, with such amount constituting the Gross Proceeds of the applicable Preference Action.

  • Such reimbursement amount shall be paid within ten (10) days following the later to occur of (i) the final resolution of the Preference Action, (ii) the final resolution of the Reclamation Action, or (iii) Sellers’ Representative’s receipt of a statement setting forth in detail the Closing Receivables which have not been collected as of the two hundred seventieth (270th) day following the Closing Date.

  • Pension Settlement Distribution 19.86% of (i) the GUC Settlement Amount and (ii) any Retained Preference Action Net Proceeds, which shall be (x) if Class 9(b) votes to accept the Plan, allocated to Holders of Allowed Non-Qualified Pension Claims for distribution in accordance with the Plan or (y) if Class 9(b) votes to reject the Plan, retained by the Reorganized Debtors.

  • Dismissal with prejudice of the complaint and adversary proceeding in the Preference Action will be filed by the District.

  • Other GUC Settlement Distribution (i) 18.77% of (A) the GUC Settlement Amount and (B) any Retained Preference Action Net Proceeds plus (ii) the GUC Settlement Top Up Amount, which shall be (x) if Class 9(d) votes to accept the Plan, allocated to Holders of Allowed Other General Unsecured Claims for distribution in accordance with the Plan or (y) if Class 9(d) votes to reject the Plan, retained by the Reorganized Debtors.


More Definitions of Preference Action

Preference Action means any Cause of Action brought pursuant to Sections 547 and 550 of the Bankruptcy Code against any Person or other entity, including, without limitation, those Persons and entities listed in Item No. 3 of the Schedules.
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Preference Action means any and all claims or defenses of the Debtors or Post-Effective Date Debtors arising under section 547 of the Bankruptcy Code related to payments or transfers made within 90 days of the Petition Date (but excluding claims or defenses arising under section 547 of the Bankruptcy Code brought as counterclaims or defenses to Claims asserted against the Debtors).
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Preference Action means any legal proceeding commenced under the United States Bankruptcy Code or the Bankruptcy and Insolvency Act (Canada) or equivalent laws in any other jurisdiction against the Insured to return an alleged preferential payment made by the Buyer to the Insured within ninety (90) days prior to the commencement of Insolvency.
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Preference Action is defined in Section 8.2.14.
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Preference Action means the preferential transfer action pursuant to section 547 of the Bankruptcy Code alleged in the complaint [D.E. #1383] filed in the adversary proceeding [Adv. Case. No. 08-01435] commenced by the Committee against the First Lien Revolver Lenders, the First Lien Term Lenders and the Second Lien Lenders and certain other parties, as such complaint and the parties thereto may be amended from time to time.
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Preference Action means any and all claims or defenses of the Debtors or Reorganized Debtors arising under section 547 of the Bankruptcy Code related to payments or transfers made within 90 days of the Petition Date.
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Preference Action means an Avoidance Action pursuant to section 547 of the Bankruptcy Code.
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