If you find yourself in the unfortunate position of being owed money from a company in liquidation, then this video is for you.

When a company is liquidated there is a priority regime that must be followed when it comes to distributing the assets. In this video Brent Norling breaks down that regime and explains the reasons why some creditors have priority over others.

The liquidators don’t have a choice as to who they pay. They must follow the rules set out for them by Parliament.

Further, Brent explains what a liquidation means for the general pool of creditors. There are many different factors which go into who ranks higher on the priority regime. Whether that be security agreements or funding arrangements.

There are ways to leap-frog above other creditors within a liquidation.

If you need advice, we offer a FREE 30-minute legal consultation where we can discuss the issues and the strategy to move forward. Book here:

You may also like

Who Pays the Insolvency Practitioner?
So an insolvency practitioner has been appointed. So who pays his bills? The creditors? The person who appointed? The shareholders? Or? In this video Brent Norling gives a quick rundown of who is required to pay the practitioner’s [...]
Collecting Company Debts: The Squeaky Wheel Strategy
If you are owed money from a debtor company, there are two reasons why you should consider initiating liquidation proceedings. However, commencement of liquidation proceedings is a great strategy to obtain payment from a debtor [...]
How to React to a Statutory Demand
If you receive a statutory demand, it triggers some very onerous timeframes for you to take action, especially if the debt is disputed. There is a tendency to ignore the demand for a couple of weeks. That is a bad idea. So in this [...]
12317

Page 1 of 17