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<h1>Preferential transactions: avoidance permitted where transfers advantage creditors within statutory look back periods.</h1> Preferential transactions are transfers that improve a creditor, surety, or guarantor's position relative to distribution under the insolvency waterfall; a liquidator or resolution professional may apply to avoid such transfers if both a transfer for antecedent liabilities and an advantaging effect are present. The statute provides look back periods distinguishing related and non related parties, and excludes transfers made in the ordinary course or certain security interests that secure new value and satisfy registration and timing conditions; new value excludes substitution of existing debt.