What is Assignment With Preferences?

Legal Definition
the assignment that directs the creditors to be paid first in full before claims of other creditors are paid.
Legal Definition
An assignment for the benefit of creditors, with directions to the assignee to prefer a specified creditor or class of creditors, by paying their clnims in full before the others receive any dividend, or in some other manner. More usually termed a "preferential assignment."
-- Black's Law Dictionary