Meaning of “preferred” in the English Dictionary

"preferred" in British English

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preferredadjective

uk /prɪˈfɜːd/ us /prɪˈfɝːd/

liked or wanted more than anything else:

The earlier train would be my preferred option.

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(Definition of “preferred” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"preferred" in Business English

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preferredadjective

uk /prɪˈfɜːd/ us

liked or wanted more than another:

If a brand does not offer their preferred size, shape, colour, or price point, they will find another that does.
She said her school removed the company from its list of preferred lenders because of poor loan servicing and student complaints.

FINANCE, LAW relating to people, businesses, etc. to which money is owed that must be paid back by a bankrupt company before it pays others, or to the debt itself:

Thanks to its preferred creditor status, the World Bank can expect to be repaid before any commercial lender.
A quarter of the company's preferred debt is in unpaid taxes.

(Definition of “preferred” from the Cambridge Business English Dictionary © Cambridge University Press)