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.
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