Hudson Weir

FEBRUARY 28, 2023

Once a firm enters administration, it must pay every creditor group entirely, save for ‘prescribed part’ secured creditors, before funds are distributed to the subsequent creditor. Secured creditors include leasing companies and banks.

Unsecured Creditor 52

Unsecured Creditor Secured Creditor Creditors Construction 52

Hudson Weir

OCTOBER 24, 2023

If your company needs to restructure debt but directors want to continue trading, you may be considering a scheme of arrangement. And it differs from other solutions to address debt such as a creditors’ voluntary liquidation (CVL) or a company administration process. A scheme of arrangement is binding even for secured creditors.

Creditors 59

Creditors Unsecured Creditor Secured Creditor Trade 59

Hudson Weir

JULY 15, 2021

Sometimes, it is the only viable solution when trading difficulties make it impossible to continue. In essence, the company in liquidation’s employee rights mean that staff aren’t expected to write off outstanding amounts but become preferential creditors. For directors and managers, one of the primary concerns is their staff.

Creditors 95

Creditors Secured Creditor Trade Banks 95

PBWT

MAY 22, 2022

Exchange platforms also function similar to traditional securities brokers that facilitate the trading of investment products that are not typically held in the beneficial owner’s name. In contrast, assets held in non-custodial wallets remain under the customer’s control with a private key.

Bankruptcy 109

Bankruptcy Debtor Creditors Unsecured Creditor 109

PBWT

MARCH 2, 2021

Protecting Trade. Bankruptcy judges are often and understandably the most protective of “the little guy” – the trade creditor who might not focus on or understand the significance of a notice from a faraway Bankruptcy Court. Due Process.

Bankruptcy 65

Bankruptcy Debtor Creditors Trade 65

Hudson Weir

JULY 8, 2019

Does the company continue trading, and what’s the role of the insolvency practitioner? CVL: The company usually stops trading either shortly prior to or on the date the company enters liquidation. The insolvency practitioner is appointed with the title Liquidator and their duty is to act for the benefit of the creditors as a whole.

Creditors 40

Creditors Trade Secured Creditor Government 40

Hudson Weir

APRIL 15, 2021

They can cover building fixtures, trade fixtures, motor vehicles and fixed plant and machinery, in addition to the freehold or leasehold of a property. Preferential creditors are next, including employees owed arrears of wages and holiday pay. Fixed charges are most commonly granted over property. The post What Are Debentures?

Unsecured Creditor 52

Unsecured Creditor Lender Creditors Secured Creditor 52