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

Dealing with Letters from Liquidators
Liquidators frequently send demand letters. Some are meritorious demands. Others are no more than a ‘shakedown’ to get recipients to pay. Knowing the difference is crucial to determining the appropriate strategy in response. In [...]
Two Steps to take in a Struggling Business
If you are an owner of a struggling business, there are TWO THINGS you need to be doing right now. In this video, Brent Norling discusses these two things which will have a meaningful impact on your business. Whether your issue is [...]
Statutory Demands: Legal Update
From 1 September 2020, a new law came into effect which changes the way statutory demands will work in practice. This new change will have a significant impact on the way in which creditors act strategically when collecting debts [...]

Page 3 of 17