Cutting through the insolvency paperwork jargon – A guest blog by Menzies LLP
CICM
JUNE 9, 2021
The priority of payments in a company insolvency determines where creditors rank in terms of likely return. Below is a non-exhaustive list of priority: Secured creditors – with a fixed charge. Preferential creditors – employees of the company owed arrears of wages and holiday pay. Unsecured creditors.
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